IGB Reit raises $268 million from Malaysia IPO

The retail mall trust prices its deal at the top of the range, with an implied distribution yield of 5.4% for 2013.
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IGB Reit's Mid Valley Megamall: part of one of the biggest mixed-use developments in Malaysia
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<div style="text-align: left;"> IGB Reit's Mid Valley Megamall: part of one of the biggest mixed-use developments in Malaysia </div>

IGB Reit, a real estate investment trust focusing on retail malls in Malaysia, has raised M$837.5 million $268 million from its initial public offering. It is the latest offering to price in Malaysia, which has been a bright spot for IPOs this year.

The Reit is also the latest trust to seek a listing in Southeast Asia during the past couple of months, reflecting a general investor appetite for yield amid uncertain market conditions. In Singapore, Far East Hospitality Trust, a hotel-focused Reit, raised $527 million from an IPO last month and the similarly focused Ascendas Hospitality Trust raised $364 million in its IPO in July. One source...

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