RDS Partnership Advises On The Establishment Of AME REIT
Our heartiest congratulations to the directors and management team of AME Elite Consortium Berhad (AME Elite) and its wholly-owned subsidiary, I REIT Managers Berhad (I REIT Managers) on the establishment of AME Real Estate Investment Trust (AME REIT), which marks a pivotal milestone in its proposed listing on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities).
On 20.5.2022, I REIT Managers, the management company of AME REIT, obtained from the Securities Commission Malaysia (SC) a Capital Markets Services Licence for the regulated activity of fund management in relation to asset management restricted to real estate investment trusts.
On 23.5.2022, AME REIT was established upon the registration with the SC of the trust deed entered into between I REIT Managers and RHB Trustees Berhad (the trustee of AME REIT). A listing application for the proposed admission of AME REIT to the Official List of Bursa Securities and the listing of and quotation for up to 520.0 million units 2 on the Main Market of Bursa Securities has also been submitted on 24.5.2022.
In conjunction with the establishment of AME REIT, 5 subsidiaries of AME Elite will dispose 31 industrial properties and 3 industrial-related properties to AME REIT for a total consideration of RM557.0 million. Previously, on 11.5.2022, AME Elite, the sponsor of AME REIT, has obtained the approval of its shareholders for the aforesaid disposals and the proposed listing and quotation of the units of AME REIT on the Main Market of Bursa Securities.
We are proud to have played a part in the establishment of AME REIT as the legal advisers and due diligence solicitors. Our Capital Markets Head & Partner, Ong Eu Jin together with associates Lee Zai Lii (Lily), Diane Ngu, Vincent Kow and Teoh Eileen.
The RDS Capital Markets practice is active in the IPO space and the REITs sector. If you have any queries on listing, please contact our Capital Markets Head & Partner, Ong Eu Jin at eujin@rdslawpartners.com
More information on the AME REIT can be found at:
The Star
https://www.thestar.com.my/business/business-news/2022/03/26/ame-getssc-nod-forreit-listing
The Edge Markets
https://www.theedgemarkets.com/article/ame-elite-gets-green-light-sc-industrial-reit-listing
NST
26 MAY 2022
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