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KrisAssets gains on plans to dispose Mid-Valley to IGB’s REIT

KUALA LUMPUR (May 14): KrisAssets Bhd shares rose on Monday after it proposed to dispose Mid-Valley Megamall and the Gardens to a real estate investment trust (REIT) owned by IGB Bhd for RM4.6 billion.

The transaction is to be satisfied by cash and units in the REIT.

At 10.20am, KrisAssets added 50 sen to RM7.51 with 299,800 shares traded.

Shareholders of Krisassets will get cash and be able to participate in the listing of the REIT, which should create some excitement in the company.

IGB, by virtue of being the major shareholder of KrisAssets should also see some excitement as the focus will be on the valuation of the assets.

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