IOI Properties Group has cleared another gate for its RM7.58 billion IOIPG Malaysia REIT, and this one is more practical than ceremonial: Bursa Malaysia Securities has approved the trust's admission to the Official List and the listing and quotation of 5.5 billion units on the Main Market.
The approval, carried in a Bursa filing reported by The Star and EdgeProp, came through a Bursa Securities letter dated 30 September 2026. It follows the Securities Commission Malaysia approval reported in August and moves the listing from proposal into execution.
Rummah News covered the earlier structure of the REIT last week, when the draft still centred on the portfolio and revised appraised value. This follow-up is the market permission step. The earlier story is here: IOIPG REIT draft puts IOI City Mall at the centre.
The trust's initial portfolio is still the point. It is built around nine retail, office and hotel assets: IOI City Mall, IOI City Towers, PFCC Towers, Putrajaya Marriott Hotel, Le Meridien Putrajaya, Moxy Putrajaya, Four Points by Sheraton Puchong, W Kuala Lumpur and Courtyard by Marriott Penang. EdgeProp's daily digest said the portfolio's updated aggregate appraised value is about RM7.66 billion, while the property disposal consideration remains RM7.58 billion.
There is a slightly untidy but important financing story under the neat headline. The Edge's KLSE Screener mirror reported that the RM7.58 billion acquisition will be satisfied through 5.5 billion units at 90 sen each, plus RM2.65 billion in cash funded through sukuk. The proposed offering includes 715.61 million retail units, of which 550.61 million are set aside for a restricted offer to existing IOI Properties shareholders on a one-for-ten basis, with the entitlement date still to be announced.
Bursa also approved up to 300 million new units to be issued in stages as payment of management fees to IOI REIT Management Sdn Bhd. That does not decide demand for the listing, but it sets the machinery in place.
Rummah News' view is that the next test is not whether Malaysia needs another listed landlord. The market usually has room for a clean, income-producing portfolio. The sharper question is how investors price a REIT whose biggest asset is a dominant mall and whose hotel sleeve includes both Klang Valley and Penang exposure, at a time when listed property trusts are competing for yield-conscious money.
Sources: Bursa Malaysia company announcements, The Star, EdgeProp, The Edge via KLSE Screener.
