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.
“We may consider injecting our hotel business when it is mature,” WCT managing director Peter Taing Kim Hwa told StarBiz.
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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.
“We may consider injecting our hotel business when it is mature,” WCT managing director Peter Taing Kim Hwa told StarBiz.
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