Paradigm Real Estate Investment Trust (“Paradigm Reit”) Inks Underwriting Agreement with Maybank Investment Bank Berhad, Cgs International Securities Malaysia Sdn Bhd, And Aminvestment Bank Berhad for the Listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”)

 

Key Highlights:

 

PETALING JAYA, 21 APRIL 2025 – Paradigm Real Estate Investment Trust (“Paradigm REIT”), a newly established real estate investment trust, has reached another significant milestone with the successful signing of its underwriting agreement in anticipation of its proposed listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”).

 

Maybank Investment Bank Berhad (“Maybank IB”) is the Principal Adviser, Lead Bookrunner, Sole Managing Underwriter of Paradigm REIT’s initial public offering, as well as Joint Bookrunner and Joint Underwriter together with CGS International Securities Malaysia Sdn Bhd (“CGSI”) and AmInvestment Bank Berhad (“AmInvestment”).

 

Paradigm REIT is scheduled to be listed with an initial fund size of 1,600,000,000 units, of which 560,000,000 offer units will be made available for retail and institutional offering (“Proposed Offering”). The Proposed Offering entails the proposed retail offering of up to 254,657,500 offer units and proposed institutional offering of at least 305,342,500 offer units. The listing is anchored by the injection of three premier retail assets: Bukit Tinggi Shopping Centre (“BTSC”), Paradigm Mall Petaling Jaya (“PMPJ”), and Paradigm Mall Johor Bahru (“PMJB”). These disposals by the respective vendors for a total disposal consideration of RM2,437,000,000, will be satisfied through the issuance of 1,600,000,000 units in Paradigm REIT at an issue price of RM1.00 per consideration unit and a cash consideration of RM837,000,000.

 

In addition, Paradigm REIT will be receiving a right of first refusal (ROFR) from WCTH to acquire real estate assets located in Malaysia used for retail, commercial, industrial and hospitality purposes, providing Paradigm REIT with access to future acquisition opportunities of properties which WCTH has direct control over and/or developed by WCTH and is expected to increase the pipeline of assets for Paradigm REIT.

 

Delivering remarks at the ceremony, Ms Selena Chua Kah Noi, the Chief Executive Officer of Paradigm REIT Management Sdn Bhd (formerly known as WCT REIT Management Sdn Bhd), being the management company of Paradigm REIT, stated, "The underwriting agreement formalises our next step toward a successful listing. With the endorsement from shareholders of WCTH and the support of our advisors and joint underwriters, Paradigm REIT is well-positioned to offer both institutional and retail investors a value investment proposition. Our high-quality asset portfolio and future pipeline provide a strong foundation for long-term, sustainable value creation. We look forward to delivering consistent returns and growth to our unitholders. Paradigm REIT is not only a vehicle for attractive investment opportunities but also a testament to the strength of WCT Holdings’ vision and its commitment to creating lasting value for all stakeholders."

 

Mr. Michael Oh-Lau, Chief Executive Officer of Maybank IB, said: “Maybank Investment Bank as the Principal Adviser and Lead Bookrunner is proud and honoured to lead-manage Paradigm REIT’s journey to list on the Main Market of Bursa Malaysia. With its high quality and strategically located retail assets portfolio and seasoned management team, Paradigm REIT is poised to be an attractive REIT investment proposition for investors, underpinned by its asset pipeline from its sponsor, WCT Holdings.”

 

Paradigm REIT’s listing on Bursa Malaysia is expected to take place following the completion of regulatory approvals and finalisation of the offering process.