IOI Properties Launches RM2.1 Billion IOIPG REIT IPO in Malaysia
IOI Properties Group announced its plan for an initial public offering (IPO) of its real estate investment trust, IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT), in pursuit of fundraising of about RM2.1 billion ($515.7 million) ahead of the placement of its shares on Bursa Malaysia on November 25, 2026.
The IPO is expected to be the highest IPO in Malaysia’s real estate investment trust industry to date. Given the retail offering price of the IPO at RM0.96 per unit, the value of the trust at this stage is around RM5.3 billion.
Nine-property portfolio valued at RM7.66 billion
IOIPG REIT will hold a portfolio of nine properties with a combined valuation of RM7.66 billion. Among other assets, IOI City Mall, the largest shopping mall in Malaysia, and six hotels under the Marriott brand form part of the investment portfolio.
With a total leasable space of over 2.5 million sq ft, IOI City Mall is the major asset in the company’s portfolio, with its committed occupancy rate being 97.9% as of May 31, 2026.
The offering comprises up to 2.2 billion units. Of these, up to 715.6 million units have been allocated for retail investors, while institutional investors will have access to up to 1.48 billion units.
Distribution yield and listing plans
The IPO carries a projected distribution yield of 6.6% for the financial period ending June 30, 2027. This represents the trust's forecast distribution relative to its unit value, rather than a guaranteed return for investors.
Following the listing, IOI Properties intends to retain up to 60% of the units in the trust, maintaining a substantial ownership interest in the portfolio.
The planned November 25 listing will bring the portfolio of retail and hospitality assets into the Malaysian REIT market through a publicly traded investment vehicle.
