Malaysia’s WCT Holdings Berhad (WCTH) has announced the proposed establishment of a diversified commercial REIT known as Paradigm REIT.
The REIT will be sponsored by WCTH and will have an initial portfolio of three retail assets to be disposed of by the company.
These assets will be disposed of to Paradigm REIT for a total consideration of MYR2,437 million.
This disposal consideration will be satisfied through the issuance of 1,600 million new units in Paradigm REIT and a cash payment of MYR837 million.
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