PETALING JAYA: IOI Properties Group Bhd
(IOIPG) has received Bursa Malaysia Securities’ approval to list its proposed RM7.58bil IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT) on the Main Market.
In a filing with Bursa Malaysia, the property developer said the exchange, via a letter dated Sept 30, had approved the admission of IOIPG REIT to the Official List of Bursa Securities, as well as the listing and quotation of its 5.5 billion units under the REITs sector.
It added that Bursa Malaysia also approved the listing and quotation of up to 300 million new units that will be issued as payment of management fees to IOI REIT Management Sdn Bhd, which is the REIT's manager.
IOIPG received approval from the Securities Commission Malaysia in August for the listing of the REIT, which will be backed by a portfolio of landmark assets that include IOI City Mall Phases 1 and 2, IOI City Towers, PFCC Towers, and a suite of premium hotels such as Putrajaya Marriott, Le Méridien Putrajaya, Moxy Putrajaya, Four Points by Sheraton Puchong, W Kuala Lumpur, and Courtyard by Marriott Penang.
