Initial public offering of Pavilion REIT 31 million units available for application by the Malaysian public has been oversubscribed by 7.49 times, announced by MIH on 23 November 2011. 

A total 9,446 applications for 232.3 million units were received for Malaysian public portion of 31 million units, represents an over subscription rate of 7.49 times.

The final institutional price was fixed at RM0.90 per unit and final retail price was fixed at RM0.88 per share, no change from the initial offer (retail) price as stated in IPO prospectus. This means, the opening reference price at the listing day would be RM0.90, successful retail applicants stand a gain of RM0.02 per share. Of course, further increase in share price upon listing would give a further windfall to retail investors.

Notices of allotment will be mailed to successful retail applicants on or before 6 December 2011.

Important dates:
Balloting date  –  23 November 2011
Notice of allotment – 6 December 2011
Listing date – 7 December 2011 (Wed)