IOIPG Malaysia Reit's IPO saw 0.59 times oversubscription, offer price fixed lower
KUALA LUMPUR: The initial public offering (IPO) of IOI Properties Group Bhd’s real estate investment trust (Reit), IOIPG Malaysia Reit, had been oversubscribed by 0.59 times for its public portion.
KUALA LUMPUR: The IPO for IOI Properties Group's real estate investment trust, IOIPG Malaysia Reit, saw a 0.59 times oversubscription for the public portion. The non-Bumiputera portion was even more oversubscribed at 1.85 times, while the Bumiputera portion was undersubscribed at 0.33 times. It is anticipated that the IPO will raise around RM2 billion, leading to an expected market capitalization of RM5 billion once listed.
The final IPO price was set at 91 sen per unit, lower than the initial retail price of 96 sen. The institutional offering, attracting mainly long-term investors such as GLICs and insurers, was fully subscribed. There were 10,859 applications received for the public offering, with a subscription rate of 1.59 times.
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