By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 13 November 2026
IOIPG Malaysia REIT has fixed its final IPO price at 91 sen a unit, 5 sen below the 96 sen retail price, after its public offer was subscribed 1.59 times. The results were announced on 12 November 2026. Successful retail applicants will get 5 sen a unit back. Read our earlier report on the IPO launch at 96 sen.
The key facts
| Item | Details |
|---|---|
| Final price | 91 sen a unit for both retail and institutional investors, equal to the pro forma net asset value per unit |
| Refund | 5 sen a unit to successful retail applicants, without interest, within 10 market days of the final balloting |
| Projected yield | 6.96% at 91 sen, based on an annualised distribution of 6.33 sen a unit for 11 September 2026 to 30 June 2027 |
| Proceeds | About RM2 billion for sponsor IOI Properties Group |
| Market value at listing | About RM5 billion |
| Notices of allotment | To be posted by 24 November 2026 |
How the offer was subscribed
| Tranche | Result |
|---|---|
| Malaysian public (110 million units) | 10,859 applications for 175 million units, 1.59 times |
| Non-Bumiputera public | 9,114 applications for 156.76 million units, 2.85 times |
| Bumiputera public | 1,745 applications for 18.24 million units, 0.33 times; the balance was reallocated |
| IOIPG shareholders | Applications for 604.18 million units against 550.61 million available |
| Pink form (directors, staff, associates) | 55 million units, fully subscribed |
| Institutional | Up to 1.48 billion units, fully subscribed after clawback and reallocation |
All Bumiputera applications and non-Bumiputera applications of up to 10,000 units were allotted in full. Larger non-Bumiputera applications received part of what they applied for.
What it means for investors
A lower final price means a higher starting yield, but REIT prices can still rise or fall after listing. If you are comparing a REIT with buying a rental property:
- REIT units are easy to buy and sell, but you have no control over the properties.
- A rental home needs more capital and management, but you choose the property and the tenant.
- Compare yields after costs, including maintenance, vacancy and financing for property.
The REIT’s portfolio includes Courtyard by Marriott Penang on Jalan Macalister. If you are looking at Penang property for rental, browse our project reviews.
Frequently asked questions
What is the final IOIPG REIT IPO price?
91 sen a unit, for both retail and institutional investors.
Will retail applicants get a refund?
Yes. Successful retail applicants get 5 sen a unit back, without interest.
What is the projected yield at 91 sen?
6.96%, based on an annualised distribution of 6.33 sen a unit for the period to 30 June 2027.
Comparing a REIT with buying property?
I can share rental and price data for Penang projects. WhatsApp or call +60 10-313 9113.
Sources
- EdgeProp: IOIPG REIT fixes IPO price at 91 sen, public offer subscribed 1.59 times
- The Star: IOIPG Malaysia REIT fixes IPO price at 91 sen per unit
- Business Today: IOIPG REIT fixes IPO price lower at 91 sen, valuing trust at RM5 billion
This article is general information based on published reports as of 13 November 2026. It is not investment advice.