KUALA LUMPUR: IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT), which is seeking a listing on Bursa Malaysia Securities Bhd’s Main Market, has signed of an underwriting agreement with a syndicate of six financial institutions for its initial public offering (IPO).
IOIPG REIT Management Sdn Bhd, the REIT’s manager, said it, its sponsor IOI Properties Group Bhd
and trustee MTrustee Bhd entered into the agreement with Maybank Investment Bank Bhd, AmInvestment Bank Bhd, CIMB Investment Bank Bhd, Hong Leong Investment Bank Bhd, RHB Investment Bank Bhd and UOB Kay Hian (M) Sdn Bhd.
The six joint underwriters will underwrite an aggregate of 165 million offer units under the public offering and restricted pink form offering subject to the clawback and reallocation provisions, it said in a statement today.
The IPO involves up to 2.20 billion offer units, comprising a retail offering of 715.61 million units and an institutional offering of up to 1.48 billion units.
IOIPG REIT is expected to launch its prospectus in the fourth quarter of 2026, the statement said.
IOIPG REIT Management chief executive officer Chris Chong said signing this underwriting agreement is an important step in bringing IOIPG REIT’s listing to fruition.
He noted that Malaysia’s tourism industry continues to gain momentum, generating RM323 billion and contributing 15.9 per cent of gross domestic product in 2025, with international arrivals targeted to reach 47 million in 2026 under the Visit Malaysia 2026 campaign, which has since been extended into 2027.
"This sustained tourism growth bodes well for both our hotel and retail assets, with Malaysia’s retail trade sector also remaining resilient, supported by strong domestic demand and rising tourist spending,” he said in the statement.
IOIPG REIT’s initial asset portfolio comprises nine assets across Selangor, Kuala Lumpur and Penang valued at about RM7.66 billion as at May 31, 2026.
The properties include IOI City Mall, Malaysia's largest retail mall; six hotels operating under Marriott International's family of brands; and two office developments, IOI City Towers and PFCC Towers. - Bernama
