KUALA LUMPUR: IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT) has fixed the institutional and final retail prices for its initial public offering (IPO) at 91 sen per unit, valuing the trust at RM5.01 billion upon its listing on Bursa Malaysia’s Main Market.
The final retail price is lower than the RM0.96 per unit initially paid by retail applicants. Successful applicants will receive a refund of five sen for each unit allocated, without interest.
Based on the final price, IOIPG REIT’s projected annualised distribution yield for the 2027 projection period is 6.96%, compared with 6.60% at the earlier retail price of RM0.96. The projection is based on an annualised distribution per unit of 6.33 sen.
The trust’s pro forma net asset value per unit upon listing remains at approximately RM0.91.
The institutional price was determined following the close of the institutional offering on Nov 10 and completion of the bookbuilding process.
IOIPG REIT’s offering involves 5.5 billion units upon listing. As no new units will be issued under the offering, the trust will not receive any proceeds from it.
Instead, gross proceeds of approximately RM2 billion, calculated based on the final offer price, will accrue entirely to the sponsor.