Malaysian office and industrial landlord, Axis REIT, has announced that its intention to list up to 92 million new units has been approved by the Malaysian authorities.
|Axis REIT is Malaysian first listed Islamic REIT. Photo: Axis REIT
Axis REIT has indicated in previous announcements that it intends to issue up to 2 million new units for the purpose of the payment of management fee to Axis REIT Managers Berhad in the form of new units. A further issue of up to 90,762,819 new units, representing up to 19.88% of the existing fund size of Axis REIT, will be used to fund the acquisition of a property known as the Wisma Academy and its annex.
Axis REIT is Malaysia's first Islamic REIT with properties predominantly in the commercial and industrial sector.