Aegis Value Plus REITs Begins Public Offering Process... "Aiming for KOSPI Listing in July"
[Asia Economy Reporter Minji Lee] Aegis Value Plus REIT announced on the 4th that it has commenced the public offering and listing procedures with the goal of listing on the KOSPI market in July.
Aegis Value Plus REIT is a delegated management real estate investment company that received business approval from the Ministry of Land, Infrastructure and Transport last year. Aegis Asset Management, the largest real estate asset management company in Korea, is responsible for asset management. Upon listing, the initial investment asset will be the "Taepyeong-ro Building" located in Jung-gu, Seoul.
The Taepyeong-ro Building is located on Sejong-daero, the main area within Seoul’s central business district (CBD), a preferred leasing area. It is one of the key buildings in the City Hall area that was formerly used as the Samsung Group headquarters. Currently, it houses high-quality tenants such as CJ Logistics, Samsung Life Insurance, Industrial and Commercial Bank of China, and Boram Funeral Services.
Aegis Asset Management stated, "The Taepyeong-ro Building will be invested in through the revenue certificates of the 'Aegis Fund No. 97,' which holds investment assets funded by the public offering," adding, "We plan to additionally incorporate real estate funds or REITs holding premium office buildings in the future."
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The lead underwriter for Aegis Value Plus REIT’s listing is Samsung Securities, with Hanwha Investment & Securities and ShinYoung Securities as the underwriting firms. The total number of shares offered is 23.7 million, with a public offering price of 5,000 KRW per share. Demand forecasting for institutional investors will be conducted from the 10th to the 11th, and public subscription for both institutional and general investors will take place simultaneously over two days on the 16th and 17th. Institutional investors can subscribe through Samsung Securities, while general investors can subscribe through Samsung Securities, Hanwha Investment & Securities, and ShinYoung Securities.
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