RDS Partnership Advises On The Main Market Listing Of AME REIT
Our firm’s Capital Markets and M&A Team is proud to have acted as the legal advisers and IPO solicitors for the successful listing of AME Real Estate Investment Trust (REIT), the first Shariah-compliant pure industrial REIT in Malaysia on the Main Market of Bursa Securities yesterday. The partner-in-charge for this IPO was Ong Eu Jin and the key lawyers were Lily Lee Zai-Lii, Diane Ngu, Vincent Kow and Eileen Teoh.
Our heartiest congratulations to the directors and management team of AME Elite Consortium Berhad (AME Elite) and its wholly-owned subsidiary, I REIT Managers Sdn Bhd (I REIT Managers) on the listing of AME Real Estate Investment Trust (AME REIT) on the Main Market of Bursa Malaysia Securities Berhad (Bursa Securities), the Malaysian stock exchange. I REIT Managers is the management company of AME REIT.
AME REIT is the first Shariah-compliant pure industrial REIT in Malaysia, consisting of an initial portfolio of 34 properties and boasting an asset size of RM557.0 million.
The listing of AME REIT entails a total issuance of 520.0 million units and an offering of 254.8 million units at an IPO price of RM1.13 per unit.
Upon listing on the Main Market, AME REIT has ample debt headroom of up to RM240.8 million to pursue potential acquisitions.
The tenant mix of AME REIT comprises of a number of multinational companies such as Dyson, DHL and Fedex, as well as three blocks of workers’ accommodation which is unprecedented for REITs in Malaysia.
We are proud to have played a part in the listing of AME REIT as the legal adviser and IPO solicitors. Our Capital Markets Head & Partner, Ong Eu Jin, Lee Zai-Lii (Lily), Diane Ngu, Vincent Kow and Teoh Eileen were the key lawyers involved in the IPO.
The RDS Capital Markets team is active in the IPO space and the REITs sector. If you have aspirations to list your company, please contact our partner, Ong Eu Jin at eujin@rdslawpartners.com for enquiries.
More information on the AME REIT can be found:
The Edge Markets
https://www.theedgemarkets.com/article/ame-reit-make-modest-debut-bursa-rm114
The Star
https://www.thestar.com.my/business/business-news/2022/09/20/ame-reit-debuts-on-main-market-at-rm114
21 September 2022
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