The IOIPG Malaysia REIT IPO has been priced at 96 sen apiece, according to the prospectus unveiled on Tuesday (Nov 3). The listing gives the trust a market capitalisation of RM5.3 billion at the IPO price.
What Is the IOIPG Malaysia REIT IPO Price and Listing Market?
The IPO is for the Main Market of Bursa Malaysia at 96 sen apiece. Sponsor IOI Properties Group Bhd (KL:IOIPG) is behind the spin-off.
The final price will be the lower of the retail price or the institutional price following bookbuilding. The trust is worth monitoring on Bursa Malaysia once trading begins.
How Much Will the IOIPG Malaysia REIT IPO Raise for IOI Properties?
The IPO is expected to raise RM2.1 billion for IOI Properties Group Bhd, which is the REIT’s sponsor. The trust itself is not raising any capital from the offer.
The spin-off is part of IOI Properties’ efforts to deleverage and bolster its balance sheet after an earlier acquisition spree. The company is also considering a separate REIT listing for its Singapore properties next.
What Is in the IOIPG Malaysia REIT Portfolio Worth RM7.66 Billion?
The initial portfolio is anchored by IOI City Mall in Putrajaya, which the source describes as Malaysia’s largest shopping mall. It also includes six hotels under Marriott International’s family of brands and two office properties.
The nine properties have a combined value of RM7.66 billion. The trust will carry debt of RM2.65 billion on its books upon listing.
- Right of first refusal: IOI Mall Puchong, IOI Mall Damansara, IOI Mall Kulai and Palm Garden Hotel Putrajaya.
What Distribution Yield Does the IOIPG Malaysia REIT Target?
The REIT projects a 6.6% distribution yield for the financial year ending Dec 31, 2027 (FY2027). The yield is the key figure for income-focused investors.
The payout policy is to pay at least 90% of distributable income on a quarterly basis. For how REIT and stock dividends are typically tracked, see our Dividend Investing Guide.
How Is the IOIPG Malaysia REIT IPO Split Between Investors?
The institutional tranche, including units reserved for approved Bumiputera investors, makes up more than two-thirds of the IPO shares on offer.
Under the retail offering, entitled IOI Properties shareholders are offered one REIT unit for every 10 shares held. General public investors are allocated just 5% of the IPO shares, and eligible persons under ‘pink form allocation’ will purchase the rest.
Who Is Underwriting the IOIPG Malaysia REIT IPO?
Maybank Investment Bank Bhd and AmInvestment Bank Bhd are the joint principal advisers, joint global coordinators, joint bookrunners, joint managing underwriters and joint underwriters.
DBS Bank Ltd is a joint global coordinator and joint bookrunner. CIMB Investment Bank Bhd, Hong Leong Investment Bank Bhd, RHB Investment Bank Bhd and UOB Kay Hian (M) Sdn Bhd are joint bookrunners and joint underwriters, with Oversea-Chinese Banking Corporation Ltd also a joint bookrunner.
When Do IOIPG Malaysia REIT Applications Close and List?
- Prospectus unveiled: Tuesday (Nov 3)
- Applications close: Nov 10 for both retail and institutional offerings
- Listing date: Nov 25
The source does not state when applications open, so check the prospectus for the subscription start date.
What Is Not Yet Known About the IOIPG Malaysia REIT IPO?
The source gives no revenue, profit, EPS, peer valuation or oversubscription figures for the IPO. These numbers are worth checking in the prospectus before making any decision.
The key balance-sheet number is RM2.65 billion of debt against RM7.66 billion in property value. Investors may want to watch how the trust manages that debt after listing.
How to Apply for the IOIPG Malaysia REIT IPO via M+ Global
Apply through the M+ Global app using Invitation Code UBZQ. Online IPO applications need a direct CDS account in your own name, and only one application per IPO is allowed.
Retail portions are balloted when the offer is oversubscribed. For assistance, WhatsApp +60169059789. You can also read our IPO Investing with M+ Global guide.
📊 On AI Stock Terminal: IOIPG quarterly results · IOIPG announcements · Malaysia IPO calendar
Disclaimer: This article is for information only and is not investment advice. Do your own research and read the prospectus before making any decision on Bursa Malaysia.
Key Takeaways
- The IOIPG Malaysia REIT IPO is priced at 96 sen apiece on the Main Market, with listing on Nov 25.
- The IPO is expected to raise RM2.1 billion for IOI Properties Group Bhd, while the trust raises no capital.
- The nine-property portfolio is worth RM7.66 billion, with RM2.65 billion of debt at listing.
- The REIT targets a 6.6% distribution yield for FY2027 and at least 90% payout quarterly.
- The source gives no profit, EPS or peer valuation data, so the prospectus is the next place to check.
Frequently Asked Questions
What is the IOIPG Malaysia REIT IPO price?
The IOIPG Malaysia REIT IPO is priced at 96 sen apiece for its Main Market listing. Applications close on Nov 10, and listing is scheduled for Nov 25.
What distribution yield does IOIPG Malaysia REIT offer?
The REIT projects a 6.6% distribution yield for FY2027. It plans to pay at least 90% of distributable income to unitholders on a quarterly basis.
Does IOIPG Malaysia REIT raise money from its IPO?
No, the trust is not raising any capital from the IPO. The expected RM2.1 billion goes to sponsor IOI Properties Group Bhd (KL:IOIPG).
How do I apply for the IOIPG Malaysia REIT IPO?
Apply through the M+ Global app using Invitation Code UBZQ, with a direct CDS account in your own name. Only one application per IPO is allowed, and WhatsApp +60169059789 is available for assistance.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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