Malaysian real estate investment trust Pavilion Reit launched an up to M$711m ($224m) IPO at the end of last week and bankers on the deal had already covered the book multiple times as EuroWeek Asia went to press on Thursday.
The deal drew strong demand because the single property-sector structure was easy to analyse and offered an attractive yield compared to similar deals, bankers said. The leads were also helped by lining up cornerstone investors, finding enough demand to cover around a third of the order book before
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