Sunway Real Estate Investment Trust is raising $460m in Southeast Asia’s biggest initial public offering this year.
The trust, part of property and hotel group Sunway City will begin trading on July 8 on the Kuala Lumpar Stock Exchange. Priced shares will be offered at 90 sen each, according to a term sheet sent to investors. The sale is being managed by a group of banks led by Credit Suisse Group AG and RHB Capital. The trust, which owns shopping malls and hotels, is valued at MYR3.7bn, news wires reported.