REIT plan for WCT, likely IPO next year

on 06 August, 2015

The Star, Thursday, 6 August 2015

PETALING JAYA: WCT Holdings Bhd plans to launch a real estate investment trust (REIT) next year to unlock the value of its assets and pare down debts.

It will firm up plans by year-end and if it does go ahead with the fund-raising event, the initial public offering (IPO) is likely to be towards the end of next year.

The company will have four malls by then with a total net lettable area (NLA) of 3.3 million sq ft. The plan is to list a REIT that comprises purely its malls in the initial stages because the hotel business is still in its infancy.

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