Starhill REIT oversubscribed by 6.27 times

YTL Corporation Bhd’s Starhill Real Estate Investment Trust’s (REIT) offering of 29.99 million units to the public have been oversubscribed by 6.27 times, the Malaysian Issuing House (MIH) said on Dec 2.

It said in a statement that a total of 22,871 applications for 218.2 new units were received from the Malaysian public.

It said the 30% bumiputra allotment representing 8.99 million units were oversubscribed by 5.01 times while the remaining public allotment was oversubscribed by 6.82 times.

MIH added that the institutional offering of 479.6 million new units to local and foreign institutional investors through bookbuilding has been oversubscribed at the institutional offer price of RM1.01 apiece and the final retail price has been determined at 96 sen per unit.

The Starhill REIT, the largest in the country and tentatively scheduled for listing on the Main Board on Dec 16, aims to raise RM523.4 million from the listing exercise.