The IOIPG REIT IPO is one of the biggest Bursa Malaysia listings of 2026. IOI Properties Group Bhd (IOIPG) launched the prospectus for IOIPG Malaysia Real Estate Investment Trust (IOIPG REIT) on 3 November 2026, according to The Star, Bernama and EdgeProp. The Star described it as Malaysia's largest REIT IPO to date. This guide sets out what was announced and where you can check the facts yourself.

What is being offered in the IOIPG REIT IPO

The offer is up to 2.2 billion units, at a retail price of 96 sen per unit. It is expected to raise about RM2.1 billion. The Star reports that the money goes to IOIPG, which is selling the units (an offer for sale).

The REIT will have 5.5 billion units in issue at listing, with an expected market value of about RM5.3 billion. IOIPG plans to keep up to 60% of the units.

The retail offering is 715.61 million units. Of these, 550.61 million units are for IOIPG shareholders, at one REIT unit for every 10 IOIPG shares held at 5pm on 30 October 2026. A further 55 million units are for eligible directors, employees and business associates, and 110 million units are for the Malaysian public, including 55 million units for Bumiputera investors.

The institutional offering is up to 1.48 billion units. This includes 687.5 million units for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).

Key dates

Applications opened on 3 November 2026 and close at 5pm on 10 November 2026. Listing on the Main Market of Bursa Malaysia is scheduled for 25 November 2026. The Star reported on 7 August 2026 that the Securities Commission Malaysia (SC) had approved the REIT's establishment and listing, with conditions including 12.5% Bumiputera equity participation.

What the REIT will own

The REIT starts with nine freehold properties in Selangor, Kuala Lumpur and Penang, appraised at about RM7.66 billion as at 31 May 2026. The main asset is IOI City Mall in Putrajaya, with more than 2.5 million sq ft of net lettable area and 97.9% committed occupancy as at 31 May 2026. The portfolio also has six hotels under Marriott International brands with 1,920 rooms, and office space at IOI City Towers 1 and 2 and PFCC Towers 1, 2, 4 and 5.

At listing, the REIT is expected to have borrowings of about RM2.65 billion and total assets of about RM7.79 billion, a gearing ratio of 34.1%.

EdgeProp reports that the REIT plans to pay out at least 90% of its distributable income, every quarter. The projected yield is about 6.6% for the financial year ending 31 December 2027, based on the 96 sen price and an assumed 100% payout. The REIT's manager has said this projection is not a promise of future payouts.

How a REIT IPO is approved in Malaysia

The SC says a REIT that wants to list on Bursa Malaysia needs SC approval under section 212 of the Capital Markets and Services Act 2007. The REIT's management company must be licensed, and the trust deed and prospectus must be registered with the SC before listing. The SC also checks property valuations and the prospectus disclosures.

How to check the facts yourself

Read the prospectus, not just news reports. IOIPG publishes the electronic prospectus at ioiproperties.com.my/prospectus. Company announcements are on bursamalaysia.com under the company's announcements.

If you use a broker or trading app to apply for IPO units or to trade once the units list, check that the firm is licensed in Malaysia at sc.com.my/investment-checker. Also check the SC Investor Alert List and Bank Negara Malaysia's Financial Consumer Alert List. SmartChecker shows register records and reviews for the companies it lists.

Common questions

When does the IOIPG REIT IPO close? Retail applications close at 5pm on 10 November 2026, according to The Star and EdgeProp.

When will IOIPG REIT be listed? Listing on the Main Market of Bursa Malaysia is scheduled for 25 November 2026.

What is the IOIPG REIT IPO price? The retail price is 96 sen per unit.

Where can I read the IOIPG REIT prospectus? On IOIPG's website at ioiproperties.com.my/prospectus.

This article explains public news. It is not a recommendation to buy or sell any security.