Sunway signs up anchors for IPO of biggest Malaysian Reit

01 Jun 2010

Malaysian developer Sunway City is preparing to launch the IPO of its real estate investment trust after signing up Singapore’s sovereign wealth fund as a cornerstone investor.

Government of Singapore Investment Corp is to buy 134m shares in Sunway Reit at a maximum price of M$0.98 a share, giving it a stake of almost 5% in what will be Malaysia’s biggest listed property trust.

Malaysia’s Employees Provident Fund and Permodalan Nasional, the country’s biggest fund ...

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