IGB REIT offers 670m units in RM838m IPO


KUALA LUMPUR, Aug 7 – Malaysia’s IGB Real Estate Investment Trust (REIT) will offer up to 670 million units in an initial public offering (IPO) that could fetch as much as RM838 million. The flotation, expected to debut on Sept. 19, is the fourth largest initial public offer (IPO) in the Southeast Asian country this year after the planned listing of Astro All Asia Network Plc.

The IPO will provide the country’s largest REIT by asset value with more financial muscle to buy real estate in the future. The IPO comprises 469 million units for sale to institutional and selected investors and another 201 million units to eligible directors, employees and the public, according to the draft prospectus of the offer filed yesterday. The retail portion is priced at an indicative price of RM1.25 per share while the institutional price will be determined on Sept 4, after the bookbuilding ends. The bookbuilding process will start on Aug. 28, according to the prospectus. Based on the retail price of RM1.25 per share, post-IPO IGB Reit would have a market capitalisation of RM4.25 billion, the largest in Malaysia ahead of Pavilion Real Estate Investment Trust. IGB REIT, a unit of Malaysian property firm IGB Corp Bhd , has hired CIMB Investment Bank and Hong Leong Investment Bank as the joint principal advisers and joint managing underwriters for the IPO. CIMB, Credit Suisse and Hong Leong are the joint global coordinators, while CIMB, Citigroup, Credit Suisse, DBS, Deutsche Bank, Goldman Sachs, Hong Leong, HSBC, JP Morgan and Maybank are the joint book runners. Joint underwriters are AmInvestment, CIMB, Hong Leong and Maybank. In addition to IGB REIT’s listing for the remaining part of the year, Malaysia’s second richest man Ananda Krishnan also plans to re-list his pay-TV firm Astro in a deal that could fetch as much as US$1.5 billion (RM4.65 billion). – Reuters

This post has been edited by xuexueli: Nov 1 2012, 03:43 PM

http://forum.lowyat.net/topic/1993103/+2080#entry53654764

http://forum.lowyat.net/topic/2458296/+180#entry53660708

for me are big no no ... not worth ...

look at pavilion REIT, this one could be big one

Can u justify ur opinion? why is it not worth? I am planning to help my mom apply for this IPO

different ppl got different view.... so far the biggest IPO REIT... could be Pavreit and Sunreit... both also Retail Mall...


Those IPO is below 1rm.... why IGBREIT 1.25? For me will skip...

Bro,

when Pav Reits IPO listing early of the year, it's only 0.88 sen...look at in now....Today already RM1.36

For ur info ,

Mid Valley is one the hottest Retail Mall in Malaysia, high traffic, and still got room to growth...

I think IGB Reits given time will be ROOM ROOM ROOOMM>>>>all the way

Invest or not..up to u all

BTW for ur info,

U can get this IGB Reits below IPO price , the parent company KASSETS closed to RM8.74 equivalent to 1.20 IGB REITS......so grap it before to late.......

Does this means that if i buy KASSETS share today, i will entitle to IGB REITS automatically?

Yes.

Anyone care to explain this? Or anywhere i can read about this?

may I ask, how many units of its REIT would be given for Kassets though?

I'm confused. Some say KASSETS and some say IGB. Where did you get this information?


Attached thumbnail(s)

NOW KASSET PRICE RM 8.78 equivalent to IGB REITS = RM 1.21..still below IPO Price

GRAP IT B4 too late...

Will it be high percentage that the IPO price will be revised after closing IPO?

i dont understand. how does it work? buy kasset can get igb reits for 1.21. Anyone care to explain?

no1 can predict. but yes it can happen.

With

SUnreit = 1.49
PAvreit = 1.37

Both also retail Malls reits...price at all time high..u think it will revised or not....

Invest or not..up to u ..!

Still under IPO price now...i assume when the propestus is out....it wont under IPO price anymore

So grap while u can ! KASSETS

bro. now rm8, i dont have money to buy, 100 units can onot? then they give me 500 units? LOL

anyway, i really no bullets left now, i can kiss astro ipo bye bye also.

Got any analysis on this IPO not?? based on previous comments, i could see a mix opinion on investing this IPO. Very confuse now

http://forum.lowyat.net/index.php?showtopi...post&p=51408012

REIT...

thanks but

i still have a lot to learn

KASSETS 8.86 liao...> ROOOOOOOOOOOOOOOOOOMMMMMMMMMMM

COngrat to bro who bought earlier

Stil under IPO ...GRAP it b4 too late

---

Added on August 9, 2012, 10:07 amThose dun wan to play wheel of fortune.....if buy 1 lot ..confirm 5.24 lot of IGB Reits

Hold 6 months ..big fruit coming


KASSETS 8.90 liao...ROOOOOOOOOOOMMMMMMMMMMM

This post has been edited by katesamsung: Aug 9 2012, 10:07 AM

IGB/IGB REIT

Dated July 2012 …

IGB Corp will reap an estimated rm770 million cash from listing of IGB REIT that houses two shopping malls – Mid Valley Megamall and The Gardens Mall. IGB Corp will receive cash proceeds, in the form of capital repayment, from its 63.5% stake KrisAssets Holdings Bhd, which is disposing the two malls into IGB REIT.

With the fresh proceed from the IPO, IGB Corp will sit on net cash of rm484 million. As at Dec 2011, the group had net borrowings of rm286 million.

With the enlarged war chest, some quarters anticipate that IGB corp may be on an acquisition trail to acquire assets abroad.

IGB REIT has committed to pay out 100% of earnings in 2013 and 2014 after which, dividend payouts will be more than 90%. IGB Corp and KrisAssets will dispose the two malls to IGB REIT for a consideration of rm4.61 billion of which rm1.21 billion will be in cash and the rest in shares. The disposals will be distributed to KrisAssets’ shareholders in rm2.43 cash per share and 5.24 IGB REIT shares for each KrisAssets share.

Once the disposal is completed and the proceeds distributed, KrisAssets will be liquidated and deregistered.

Post listing, IGB Corp’s stake will hold a direct 51% equity stake in IGB REIT, which will issue 670 million new units or 19.7% of its total share capital.

This post has been edited by panasonic88: Aug 9 2012, 10:49 AM

meaning to say IGB REIT is a must buy!

and MORE BIG projects coming in...

SO KASSETS still worth to buy in? or just go for IPO?

I will rather buy IGB.

Each Kasset will give u 5.24 IGBReit.
Proposed return : RM2.43 per share + 5.24 IGB Reit
Price Today of stock 6653 RM8.99

Theoretical IGB price : RM1.25/share

But IGB IPO - you may not get it.
Kasset - you are sure to get it if you are willing to pay for the current market price.

Why did IGB Corp dropped when KA rose so much?

IGB corp drop because every1 buying KA mar. lol.

any conclusion? BUY IPO? KA? IGB?

But they hold a substantial amount in KA and soon-to-be IGB REIT, they have also been buying back a lot of shares lately.

Wise to stock in KA for that price 899? Even though it gives you back IGBreit; any clue IGBreit will be opened for public or priority with LA holders?

Ya, I don't think KA is good to put in now as the price is ady high....

price is already on the highest side. How high it can go further?
The higher the price, the more expensive your proposed IGBR will be. Why chase the RM2.43, when the end result is not favourable?

If you trust that IGB-R can be +20% in coming months, can always buy on LISTING day.

If listing open already 1.30..then how.....?...

Kassets RM9.00 also good entry....

But 2 days ago ..when i inform all the bro here ..."KASSET under IPO price...GRAP IT B4 TOO LATE ....no one bother me

Nope Bro, not we dun bother you, is bcos we dun have bullet...Axtro also got IPO o...where got so much bullet?
lolx

even at 130, BUY if you have hope. See Pavi REIT, 0.88 > 1.30's

zamans98's strategy is always sell on the first day of listing

But I am a long-term investor

yes, correct strategy. There is a Caveat, when the IPO is gooding for long term, I will keep it, depending on the cashflow.

i will buy IGB for few years to keep same like IHH =) altho ihh no divvy but igb as REITs will surely have. altho slow grow. but just put in a lil money shud be fine.

For those who can read chinese,
ASTRO和怡保花园產託今年內上市

KASSETS - RM 9.00 Liao - ROOOOOOOOOMMMMMMMM

I think of u when I saw an car advertisement with the words "ROOOMM" .. Haha

Bro..Jus put a little spice out of the sentence..if not..very boring....

so. IGB reit will higher than 1.25 per lot? Roooom... ==

Malaysia Finance blog about IGB Reit.

http://www.malaysiafinance.blogspot.com/20...ext-biggie.html

Got some good info about IGB Reit.

According to Henry Butcher, the valuation are as below:-

MidValley Megamall value - RM3, 440,000,000

Associated value of the assets in MidValley Megamall - RM1,582,000

The Gardens Mall value - RM1,160,000,000

The Gardens Mall associated with the value of assets - RM10,977,000

A total of - of RM4,612,559,000

The method of raising funds will be divided into two parts

1) The sale of 3,400,000,000 shares, priced at RM1.25 (3,400,000,000 x RM1.25 = of RM4, 250,000,000)

2) The loan fund-raising RM1,213,000,000

2.1) Fixed rate term facilities (Term Loan) - RM1, 200,000,000 (FRTF five-year loan can be extended for two years. 1st-5th fixed interest rate of 4.4%, 6th-7th year fixed interest rate of 5%)

2.2) Standby revolving credit facilities (Overdraft) - RM20, 000,000 (SRCF seven-year loan, floating interest rate of 0.7%)

(Information from page86)

Purchase Price = (RM3, 440,000,000 + of RM1, 160,000,000) / (1,718,951 sq + 817,053 sq.ft) of RM4, 600,000,000 / 2,536,004 = of RM1, 813.88/sq.

For readers not familiar with the Klang Valley, at RM1, 813.88/sq The price is reasonable, in fact very difficult to estimate. But luckily, the proposal provides other competitor for our reference.

Pavillion KL Mall - RM2, 390/sq.

Sungai Wang Plaza - RM1, 607/sq.

Starhill Gallery - RM1, 607/sq.

Sungai Wang Plaza - RM2, 115/sq.

Lot 10 - RM1, 561/sq.

Sunway Pyramid - RM1, 265/sq.

(Information from page A-10) [nitro page287】

the forecast according to the proposals of RM1.25 price buy IGB Reit

2012 Return rate - 5.1%; PE = 19.61

2013 Return rate - 5.37%; PE = 18.62

(Information from page 119)

About Midvalley Mall

2009 occupancy rate - 100 percent; renewal rate - 81.3% (89.6% of the rentable area)

2010 occupancy rate - 99.9%; renewal rate - 82.6% (92.8% leased area)

2011 occupancy rate - 100 percent; renewal rate - 83.8% (93.1% of the rentable area)

2012 to May, the occupancy rate - 99.8%

(Information from page 64 and 65)

The Gardens Mall

2009 occupancy rate - 96.7%; renewal rate - 37% (67.9% of the rentable area)

2010 occupancy rate - 98.2%; renewal rate - 78.2% (89.1% leased area)

2011 occupancy rate - 99.6%; renewal rate - 71.1% (88.9% of the rentable area)

2012 to May, the occupancy rate - 99.7%

(Information from the page 70 and 71)

Kasset is reversing.

Opportunity for those who missed the boat.

Malaysia Finance blog about IGB reit.
http://www.malaysiafinance.blogspot.com/20...ext-biggie.html

Oppurtunity for bro who havent bought yet...

GRAP IT B4 too late....NOW KASSETS 8.93

no need to play wheel of fortune.....

This post has been edited by katesamsung: Aug 10 2012, 04:20 PM

IGB eyes being M'sia's biggest listed REIT

IGB Real Estate Investment Trust is targeting a market value of RM4.25 billion (US$1.4 billion) when it lists in Kuala Lumpur next month, making it Malaysia’s biggest-listed property trust.

The unit of Malaysian property developer IGB Corp. plans to offer 670 million new units to both individuals and institutions, according to a sales document posted on the Securities Commission’s website. IGB’s indicative price for individuals is RM1.25 apiece, at which the whole offering would raise RM837.5 million.

IGB REIT is joining a resurgence in initial public offerings after the benchmark FTSE Bursa Malaysia KLCI Index rose to a record last month. Palm oil producer Felda Global Ventures Holdings Bhd. raised US$3.3 billion when it listed in Kuala Lumpur in July, while hospital operator IHH Healthcare Bhd raised US$2 billion. Institutional demand for shares outstripped supply for both sales.

“IGB REIT’s large asset base will allow it to raise capital in larger amounts to fund future acquisitions, thus placing it in a better competitive position to capitalize on future investment opportunities,” the company said in its prospectus.

The trust owns two Kuala Lumpur shopping malls -- the Gardens Mall and Mid Valley Megamall -- which it acquired from IGB Corp. subsidiary KrisAssets Holdings Bhd. It will generate distributable income of RM108.7 million this year, which is expected to rise to RM230.5 million in 2013, according to the sales document.

Its offering comes after Pavilion Real Estate Investment Trust, another Kuala Lumpur shopping center owner, raised RM710 million in an IPO in November to become the country’s second-biggest property trust by market value. It overtook CapitaMalls Malaysia Trust, a unit of Singapore’s CapitaLand Ltd., which raised RM852 million through an IPO in 2010.

KLCC Property Holdings Bhd, the owner of Malaysia’s 88- story Petronas Twin Towers, said in June that it’s also considering a property trust to boost shareholder value.

Pricing for IGB REIT’s institutional offering will take place on Sept. 4 before the shares debut on Sept. 19, according to the prospectus. CIMB Group Holdings Bhd and Hong Leong Investment Bank Bhd are joint lead managers for the share sale, it said. - Bloomberg

i am presuming 3.4bil is the shares outstanding.

If that is so, and if distributable income is Rm230m in 2013, propsective yield 2013 will be

230/3400 = 6.76 sen p share

At Rm1.25 , yield will be 6.76/125 = 5.4%...is that good?

Net yield after tax will be even lower

Sounds quite low.......to me anyway

@prophetjul

I noticed that nowadays mall-reits are towards share appreciation, only followed by the Yield, which is more like a safety net or bonus, not like the olden days.

So "investor" tend to lower down their expectation on DPU, so long as > FD rate, they will be happy to take it.

Focused on share appreciation = focused on share going up = "investors" = punters

* run like hell away.................................

Stock Market, is either you win, or you lose. Simple.

My understanding is that REITs have very low value appreciation unless their yields or NAV is grossly un noticed.

The share price will not appreciat much unless they can grow thier DPUs.

i gueess speculators will always speculate in anything......

when can start apply? mau simpan utk anak cucu kalau dpt...

The reason is that, people are more positive about mall ability for rental revision aka rental can be raised easily with full occupancy and high traffic of the mall, so current pricing may as well take into account of future DPU increment.

Also those reit are way larger cap and more liquidity which many fund managers eager to have it as an passive income source as well (this is quite important for those dividend type of fund, insurance fund that run on saving plan etc), coupled with low interest rate environment across, any consistent yield that more than 5% with lower risk profile is highly demanded.


The reason is simple, too many money around chasing on little thing.
A 4-5% yield is considered a high yield currently.

Yes, Reit pricing always should be following 2 front, yield and NAV.
Malls (those high traffic and fully occupied one), have good bargain power to raise its lease.
Also most malls lease highly on more short term one (correct if I am wrong) before rental revision coming in as compared office/industrial.

Many fund managers willing to settle on a 4-5% yield on their investment at current situation.

This post has been edited by cherroy: Aug 13 2012, 11:22 AM

BUY KASSETS

NOW IS RM9.00....STILL BELOW IPO PRICE


>>>GRAP IT B4 TOO LATE

Good writeup on the fundamentals of REIT investing....still learning.

i am only investing in SReIts with yeilds of 8% and above..........but not in malls

TO ALL Bro,

Just share info that i have study

Based on indicative IPO offer price of RM1.25/ share,

Each Kassets share will receive 5.24 units of IGB Reits and approximately RM2.73 cash, which bring the total distribution value per Kassets share to RM9.30

Invest or not, up to u

AND you are asking them to pay for a further 13.7 cents per share with KASSEts at Rm10?

You know what a pumper is?

?????

Sorry my mis...its rm9........but your are still pumpin

NVm La..i dun know what u talking.....

U r the one who talk like smart alec here..

I jus share the info to all bro here....Invest or not..up to u all....

If u dun think so..then dun invest..

Very fan...always meet this kind of ppl in the forum

This post has been edited by katesamsung: Aug 13 2012, 12:13 PM

thanks for the info... but is it confirm RM1.25... if RM1.10 rugi wooo... furthermore odd lots is headache... need to buy 5.24 so need to buy either 5lots or 50lots. betul tak?

Let them be ... I support u..... They don't know how to do the magic calculation ...

1.25 IGB REIT vs 8.98 Kris , still Kris more cheap ............... Don't mislead by Par Price .....


Kris can get 5,240 Unit IGB REIT x RM 1.25 ( IPo Price ) + 2.43 Cash ( Special Div + Cap Repayemnt ) + 0.xx ( Extra Cap repayment ) = The below Scenario

1) If 1st day IGB REIT listed price = 1.25 , u bought at 8.98 , u lose nothing just breakven ,
2) If that 0.xx u get it means your IGB REIT cost will be 1.21 -1.15 or even lower , very hard lose
3) If 1st day IGB REIT litsed price = 1.30-1.35 , u bought at 8.98 , u made money ...... rooms

This week or next week will having annoucement for Kris entilement for IGB REIT , if i am not wrong , later want buy it at 9.00, sure no more chance !! Mostly at 9.00 above ......... Believe it or not up to to .....

Bro Kate , use your words . Room....... Room.... RooMMMMMMMMM !!!!!!!!!

---

Added on August 13, 2012, 1:00 pm1,000 Unit Kris get 5,240 Unit IGB REIT

Odd lot 40 Unit x 1.25 = RM50.00

RM50.00 / RM8980 = only 0.55%


Know investment ppl won't care this kind of minor issue

If really afraid this kind of Odd lot , Buy Kris at 5,000 Unit , 10,000 Unit , 15,000 Unit ...........

This post has been edited by flowking88: Aug 13 2012, 01:00 PM

Thanks for ur support.....

welcome lyn-new forum member

Since you are not keen to sell Kassets, but hold IGBreit for 3-6 months, whether Kassets Vroom or Vroom Vroom to whatever price, it makes no different.

It is better off hoping IGBreit Vroom.
So it doesn't make sense to feel Vroom when Kassets Vroom to Rm9 or Rm9.50 if one doesn't keen to sell off Kassets.

Whether Kassets vroom to Rm10, or Rm11, it won't alter the performance of IGBreit later on when listing.

Kate is bro or sis

From the "high frequency + low level content" posted by the "vroom vroom bro", i think 99% he has lots of Kassets to be sold before the IGBreit IPO.

This post has been edited by yok70: Aug 13 2012, 05:20 PM

i did invest at KASSETS.. and i didnt sell any of them.....will keep for passive income for long term....Building my 15k passive income a month....

Mid Valley being the one of the hottest Mall in Malaysia....Even i think Paviilion also lose to Mid Valley in term of human traffic...


Publika...SS2 mall....1shamelin....u go n visit ...u know the different

Invest or not...up to u...

---

Added on August 13, 2012, 5:35 pmVery hard to share info at forum

When we share info about a stock...ask to invest......then ppl wil think we wan to sell to them

When dun share info, then will say ..stingy...this and that

Ok la....no more info about this KASSETS.....u all look for urself....



This post has been edited by katesamsung: Aug 13 2012, 05:35 PM

Bro Kate ,

Later they sure will regret not in at 8.90-9.00 , they stil not understand the lobang we said, let time prove it ( very soon - just need another 2 week or 1 mth ) ,

They still scare the price from 7.80 to 9.00 , they think high ....... tehy still think 9.00 is expensive , but 1.25 is cheap .....

regarding kasset, require more info.

1. 2.73 or 2.43 dividend plus capital repayment?
2. where and how do u know its rm1.25 IPO price?

Actually, in the forum, we do not ask people to invest in A or B.

We just share opinion, view, and info.
It is not right to ask anyone to invest a particular stock, even it is super cheap, no brainer price, or worth every penny of it, or the share is super duper cheap, and will make one become millionaire or billionaire afterwards.

Whatever info and opinion, we are indeed welcome with many thanks,
but not asking anyone to invest.
Whether want to invest or not, it is up to individual decision, preference.

Yes, at near 9.00 is about equivalent to IGBreit IPO pricing.
But it doesn't make sense to be vroom about Kassets market pricing, even it shoot to Rm10 or 15, if one has no intention to sell off Kassets.
As eventually all Kassets share will cease and one own the capital repayment cash + IGBreit.

---

Added on August 13, 2012, 9:27 pmIt is not people don't understand can get IGBreit through Kassets, and how much its equivalent.
Nobody dispute the calculation and valuation of IGBreit at Rm1.25 vs Rm9 Kassets.

Just other people may not want to take the risk of it, or time risk of it. As from IPO listing + its capital repayment, it takes sometimes.
Yes, IGBreit highly may chalk up some premium when first day of listing (me also think highly will around RM1.3x), but there are still time risk in between.
Who knows what can happen in between the time, even if it is highly unlikely.

So people want to buy or not buy, it is up to individual preference.
There is nothing wrong, if one not willing to take the risk (that's why we see there are still constant seller in Kassets). Those don't want to wait, rather take cash now by selling Kassets, and don't want to wait for IGBreit + capital repayment.
While other see can squeeze a few cents or ten plus cents, by buying Kassets at RM9.00.





This post has been edited by cherroy: Aug 13 2012, 09:27 PM

There is no extra cap repayment in the proposal of disposal of Midvalley and subsequent delisting of Kassets, as far as I remembered.

If buy at Rm9.00, total cost including commission is about Rm9.05 - 2.43 / 5240 = Rm1.263, so one needs to sell above Rm1.28 (as need to deduct the sell commission side as well) to make a profit.
if at Rm9.05 means need to sell above 1.29.

Also capital repayment take considerable longer time to materialise generally which already stated expectation of completion of capital repayment may be around March 2013.
So half + year to go for the Rm2.43, which if one sell now on Kassets can get the cash after T+3, and earn a 1.x% from the FD interest, which is about RM0.03.

---

Added on August 13, 2012, 9:59 pm

This post has been edited by cherroy: Aug 13 2012, 10:00 PM

1. 2.43
2. See the first page of this topic.

Who say no extra cap repayemnt 0.xx ?

1st Tips - 2.43 based on 31-12-2011
2nd tips - Go read circular to saherholder dd 5/6/2012 , Salient Terms of The Drafts SPA

Read carefully before u made any comment .

No...Bro Kate, isnt if buy KASSETS need to hold the share for few months..right? The main reason i dun buy is i need cash for Astro IPO...lolx. Is that make sense?

We can start buy on 19th?

That's why I said as far as I remembered, if you have the info, please post the details, many thanks in the first place, and the figure instead of 0.xx

Everything is clear cut, and has a figure (be it projected or estimated) under the proposal, they won't put Rm0.xx figure in the proposal.

One thing one must remember, capital repayment won't be a speedy process. So can I make this comment?

i would rather try luck with the IPO or buy on the listing day by paying more. Reasons:
- As mentioned by Cherroy, cap rep did take sometimes, so capital will be tied up for sometimes
- Buying 1K kassets will result in odd lot of IGB reit (I can't afford to buy more to avoid the odd lot.... =p)

paying more? means if the opening price is 1.25 then u queue at 1.28?

haha you wish. not sure who is gonna sell at only a 3 sen premium .IPOs are hot property now. A lot of the big ones open above listing price. dont see how this would be any different.

Sorry guys..newbie here...got a question I would like to ask..based on what I read it means tht if we buy Kasset share now, we will be eligible for 5.24 units of IGB automatically when it is released? So tht means on top of the Kasset share I bought, I would have another extra 5 units of IGB REIT...did I interpret it correctly? Thx in advance

dont confused IGB with IGB reit my fren
buy kasset, u get IGB reit + cap repay.... then kasset delist

---

Added on August 14, 2012, 12:19 pmwell, since most of the IPOs nowadays are kinda hot..... i guess u'll need to pay more than the IPO price when it's listed...
unless something else happen...

This post has been edited by fergie1100: Aug 14 2012, 12:19 PM

we dont know what will happened on the listing day

but anyway i wont mind paying a little more to get this REIT since i treat it as a fixed income instrument.

capital appreciation + dividend payout semi-annually / quarterly kinda rewarding

Go read it yourself , i already give u so many clues , i don't have obligation give so details .

wat i can says is stuck 2.43 also worth , coz that 0.xx sure worth for your to stuck 6 mth

Believe or not up to u, later Kris forthcoming announcement will prove my statement .

Please help us, we just want the info, and somebody pin-point the info only, if one already came across. You know the proposal can be lengthy and some may not well verse with corporate exercise method/wording.
We just want to know what is the amount 0.xx, where it comes from, instead of 0.xx.

Tell good about the stock and (even ask to buy the stock), then tell us to find ourself?

Reit is not ordinary stock, its upside is always capped by its potential yield and NAV.

You won't see a reit IPO at Rm1.25, but open at RM2.00. Very unlikely to happen.

---

Added on August 14, 2012, 1:41 pmI won't surprise it opens at Rm1.3x.

This post has been edited by cherroy: Aug 14 2012, 01:41 PM

Average up my Kasset

Current cost for IGB Reit is RM1.10 AKA 6% yield

Still a comfortable level.