Pre-marketing starts for IGB Reit’s Malaysian IPO

The trust, which focuses on retail malls in Malaysia, becomes the latest Reit to seek a listing in Southeast Asia as investors clamour for yield.
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Mid Valley Megamall: part of one of the biggest mixed-use developments in Malaysia
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<div style="text-align: left;"> Mid Valley Megamall: part of one of the biggest mixed-use developments in Malaysia </div>

Bankers are set to kick off the pre-marketing today of IGB Reit, a retail real estate investment trust that is aiming to raise M$837.5 million $270 million from an initial public offering in Malaysia. The listing is scheduled for mid-September.

The latest deal comes after a series of recent Reit IPOs in the region amid a general appetite for yield, a source said yesterday. Ascendas Hospitality Trust last month priced a $364 million Singapore IPO, while Far East Hospitality Trust is currently on the road with an offering that could raise up to $578 million, also in Singapore. They are both hotel-focused Reits.

IGB Reit...

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