Malaysia-listed Shari’ah-compliant business space and industrial REIT, Axis REIT, announced on 8 September that 47,758,040 units in the security will be subdivided into 1,095,516,080 units after 5.00 p.m. at the close of the trading day.
The REIT first announced in March 2015 that it was effecting a two-for-one units split to improve to facilitate a placement exercise and generally improve liquidity in the security.
“The subdivided units will be listed and quoted on the main market of Bursa Securities with effect from 9.00 a.m. on 9 September 2015, being the next market day immediately after the entitlement date”, said Axis REIT in its announcement.
Upon completion of the unit split, the issued fund size of Axis-REIT now comprises of 1,095,516,080 subdivided units. Units of the REIT closed at MYR1.62 on the Bursa Malaysia at the end of the trading day before the split was effected.