Sunway Real Estate Investment Trusts (Sunway REITs) will emerge as Malaysia’s largest REIT when it is listed in Bursa Malaysia Main Board on 8th July 2010.
It’s initial public offering (IPO) will consists of 1.65 billion units at RM0.97 per unit. The investors are institutional and selected investors with 1.52 billion units and a retail investors with 134 million units.
This IPO will also make it as the largest IPO on the local bourse to date. The REIT, by Sunway City Bhd, has an approved fund size of 2.78 billion units.
The retail offer period are between 15th to 22nd June 2010. You can subscribe to the trust funds through your broker or ATM machines or through internet banking such as Maybank2u or CIMBClicks.
Sunway REIT will hold a portfolio of properties comprising shopping malls, office towers and hotels within master-planned, integrated townships in Malaysia’s high growth region.
Eight Sunway properties, with an appraised value of RM3.7 billion, would be injected into the REIT. They are the Sunway Pyramid Shopping Mall, Sunway Carnival Shopping Mall, SunCity Ipoh Hypermarket, Sunway Resort Hotel and Spa, Pyramid Tower Hotel, Sunway Hotel Seberang Jaya, Menara Sunway and Sunway Tower.
Four cornerstone investors have secured 376 million units or approximately 22.7 per cent of the offer units.
The cornerstone investors are Employees Provident Fund (EPF), Permodalan Nasional Bhd (PNB), Government of Singapore Investment Corp (GIC) and Great Eastern Life Assurance.
Click here to download Sunway REIT Prospectus.