KUALA LUMPUR: Sunway Real Estate Investment Trust (SunREIT) made its debut on the Main Market of Bursa Malaysia on Thursday, July 8 at 89 sen.
At 89 sen, this one sen below its institutional price of 90 sen. The retail price is 88 sen.
At 9.05am, it was'' the most actively traded counter with 10.85 million units done.
With an initial investment of PROPERTIES [] worth nearly RM3.73 billion, SunREIT will be the largest listed REIT on the local bourse with units in circulation totalling 2.68 billion.
Analysts said with RM3.73 billion of assets, its more than double the second biggest REIT of Starhill's at only RM1.55 billion
A positive point for SunREIT is that Suncity will only hold 38% upon listing so its free float is 62% and the hope is that it will be a lot more liquid than other Malaysian REITs.
SunREIT has assets lined up to be injected into the REIT namely Sunway Giza (shopping mall in Kota Damansara), Sunway Phase 3 and Sunway Hotel Penang as well as others. So it may appeal to some looking for a bigger defensive counter with growth prospects.
At 89 sen, this one sen below its institutional price of 90 sen. The retail price is 88 sen.
At 9.05am, it was'' the most actively traded counter with 10.85 million units done.
With an initial investment of PROPERTIES [] worth nearly RM3.73 billion, SunREIT will be the largest listed REIT on the local bourse with units in circulation totalling 2.68 billion.
Analysts said with RM3.73 billion of assets, its more than double the second biggest REIT of Starhill's at only RM1.55 billion
A positive point for SunREIT is that Suncity will only hold 38% upon listing so its free float is 62% and the hope is that it will be a lot more liquid than other Malaysian REITs.
SunREIT has assets lined up to be injected into the REIT namely Sunway Giza (shopping mall in Kota Damansara), Sunway Phase 3 and Sunway Hotel Penang as well as others. So it may appeal to some looking for a bigger defensive counter with growth prospects.
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