Demand for Paradigm units was subdued ahead of listing, with a certain portion of the units undersubscribed by retail investors and reallocated to institutional investors.
Paradigm REIT’s IPO involved no issuance of new units, meaning the trust itself did not receive any proceeds. The entire RM560 million raised from the IPO went to WCT, the sponsor of the REIT.
Paradigm REIT owns and manages the Bukit Tinggi Shopping Centre, Paradigm Mall Petaling Jaya, and Paradigm Mall Johor Bahru. The three assets, worth a combined RM2.4 billion, are either fully or nearly fully occupied.
The trust is expected to offer an annualised distribution yield of over 7% for 2025.
See also: SGX gives approval-in-principle to FHT to delist
Upon listing, property tycoon Tan Sri Desmond Lim Siew Choon will hold a 60.7% stake in Paradigm REIT via WCT.
Maybank Investment Bank is the principal adviser, sole managing underwriter, and lead bookrunner for the IPO. CGS International and AmInvestment Bank are joint underwriters and bookrunners, while RHB Investment Bank Bhd is a joint bookrunner.
