Monday 13 August 2012

Kassets to IGB Reit Conversion

IGB Reit offers limited IPO shares to retail investors. A sure way to get IGB Reit other than purchase from the market after IPO listing is via Kassets. (Kassets shareholders are expected to received the shares of IGB Reit and cash distribution approximately 6 months from the IGB Reit listing)

Based on indicative IPO offer price of RM1.25/ share, what does Kassets shareholders gets?

As shown above, each Kassets share will receive 5.24 units of IGB Reits and approximately RM2.75 cash, which bring the total distribution value per Kassets share to RM9.30

However, if the final IPO price differs from the indicative IPO price, the distribution value per Kassets share shall be adjusted accordingly from RM9.30/ share by adjusting the total value of 2730mn units of IGB Reit (RM3.4124b) and the proceeds from the sale of the Gardens Mall (670mn x RM1.25 = RM837.50)

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