KUALA LUMPUR: Paradigm Real Estate Investment Trust
(REIT) has seen its initial public offering (IPO) oversubscribed by 1.49 times, prior to its listing on the Main Market of Bursa Malaysia Securities Bhd.
In a statement today, the company reported receiving 4,408 applicants for a total of 79.79 million offer units, which were allocated for the 32 million issue shares to the Malaysian public.
"For the Bumiputera portion, 517 applications were received for 4.65 million shares. The remaining shares were reallocated in accordance with the clawback provisions outlined in Section 3.4.3 of Paradigm REIT’s prospectus dated May 16, 2025.
"As for the non-Bumiputera portion, 3,837 applications were submitted for 75.13 million issue shares, resulting in an oversubscription rate of 3.70 times,” the company said.
Paradigm REIT also reported that 73.62 million units under the restricted offering were subscribed by entitled shareholders of WCT Holdings Bhd, with the remaining shares reallocated under the same clawback provisions.
Under the restricted pink form offering, 8.43 million units were subscribed by eligible directors and employees. Remaining units were similarly reallocated under Section 3.4.3 of the prospectus.
The REIT further stated that its joint bookrunners confirmed full subscription of all 426.59 million institutional offer units, which were offered to institutional and selected investors, including Ministry of International Trade and Industry-approved Bumiputera investors.
"Notices of allotment will be posted to all successful applicants by June 9, 2025,” Paradigm REIT said.
Maybank Investment Bank Bhd is the principal adviser, lead bookrunner, joint bookrunner, sole managing underwriter, and joint underwriter for the offering.
AmInvestment Bank and CGS International Securities Malaysia are joint bookrunners and underwriters, while RHB Investment Bank also serves as a joint bookrunner. - Bernama
