Updated: 4 March 2025, Originally posted: 2 October 2024
WCT Holdings Bhd (KL:WCT) announced on 3 March 2025 that it has obtained regulatory approval from the Securities Commission Malaysia to launch and list Paradigm Real Estate Investment Trust (Paradigm REIT) on the Main Market of Bursa Malaysia. Paradigm REIT will be introduced with an initial fund size of 1.6 billion units and a portfolio comprising three properties valued at RM2.44 billion. The acquisition of these properties will be financed through the issuance of 1.6 billion units at RM1.00 per unit, along with RM837 million in cash, which will be raised via commercial real estate-backed medium-term notes.
The Paradigm REIT listing will include an offering of up to 254.66 million units to retail investors, with allocations for WCT shareholders (via a non-tradeable restricted offer for sale), directors, employees, and the public, of which 50% will be reserved for Bumiputera investors. Additionally, at least 305.34 million units will be placed with Malaysian institutional and selected investors, including 200 million units designated for Miti-approved Bumiputera investors....
