Petronas Towers owner to list Malaysia's biggest REIT in April

KUALA LUMPUR/HONG KONG: KLCC Property Holdings Bhd, which owns Malaysia's iconic Petronas Twin Towers, is set to complete a restructuring and list in April the nation's biggest real estate investment trust (REIT), sources told Reuters.

The trust, three times larger than the next biggest Malaysian REIT, will raise no new money. The corporate restructuring was unveiled in November, creating a so-called stapled REIT by bundling existing shares of KLCC Property and units of KLCC REIT, in a bid to lure yield-hungry investors.