Malaysia's YTL Corporation raised M$513 million $136 million from the spin-off this Friday December 2 of some of its property assets into a Reit. The DBS, ECM Libra and HSBC led transaction for Starhill Reit represents the first benchmark listing of a Malaysian Reit following a smaller $32.5 million deal for Axis Reit back in August.
After being marketed at M$0.93 to M$1.03 per unit, the 509.6 million unit deal was priced at M$1.01 for institutional investors 479.6 million units and M$0.96 for local retail 30 million units.
The overall order book closed 8.8 times oversubscribed with participation by 120 institutional accounts, of whom 20...
