News about REIT

The issue price represents a discount of 3.

Based on an illustrative issue price of 57.

Upon completion, the property will be leased back to the seller, Alpha Express, under a 10-year triple net lease at RM195,000 per month, subject to rent reversion for each renewal term.

Slated for listing on the Main Market on June 10, the IPO does not involve issuance of new units, meaning that the trust itself will not receive any proceeds.

The assets are currently fully tenanted with a mix of food and beverages (F&B), lifestyle, health and educational tenants, many of which are under a sales turnover rental model.

Net rental income for the quarter also dropped 3.

The REIT is eyeing assets with medium- to long-term leases, triple net lease structures (where tenants cover taxes, insurance and maintenance), and at least a 6.

The programme, which will comprise the issuance of senior Islamic medium-term notes and subordinated perpetual Islamic notes, was lodged with the Securities Commission Malaysia (SC) by the REIT's manager, Axis REIT Managers Bhd.

Paradigm REIT will start off with three shopping malls, and the trust could potentially acquire four more assets, chief executive officer Selena Chua Kah Noi said at the same press conference on Friday.

The IPO, indicatively priced at RM1 per share, comprises retail and institutional offerings, according to the prospectus unveiled on Friday.