IOI Properties sets Oct 30 entitlement date for IOIPG REIT restricted offer

IOI Properties Group has fixed Oct 30 as the entitlement date for its restricted offer of 550.61 million units in IOIPG Malaysia Real Estate Investment Trust to shareholders. Eligible holders can buy one REIT unit for every 10 IOIPG shares held, with acceptance closing on Nov 10 and listing tentativ

PETALING JAYA (Oct 16): IOI Properties Group Bhd (IOIPG) has fixed Oct 30 as the entitlement date for its restricted offer for sale of 550.61 million units in IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT) to its shareholders.

In a Bursa Malaysia filing on Thursday (Oct 15), the property developer said shareholders whose names appear on its Record of Depositors at 5pm that day would be entitled to purchase one REIT unit for every 10 existing IOIPG ordinary shares held. The ex-date is Oct 29, and fractional entitlements will be disregarded.

The restricted offering is non-renounceable and non-tradeable, and will be made solely on the basis of the prospectus to be issued by IOIPG REIT. Entitled shareholders may take up all or part of their entitlement by paying the full retail price stated in the offer documents.

Shareholders will receive no cash for entitlements they do not take up. Excess restricted offer units will be made available to other entitled shareholders who have applied for them.

Acceptance and payment, including applications for excess units, are tentatively scheduled to close at 5pm on Nov 10. The excess application period is listed as Nov 3 to 10, while listing is tentatively scheduled for Nov 25.

IOIPG said the acceptance and payment deadline and listing date may change, and IOIPG REIT will announce its listing timetable in due course. The prospectus will be available electronically, and the notice of provisional offer and offer acceptance form will be despatched to entitled shareholders at their Malaysian addresses shown in the Record of Depositors or provided to Bursa Depository by 5pm on Oct 30.