Aegis Residence and Mirae Asset MAPS REIT End Below IPO Price on First Trading Day...

Started at 4,500 Won, 10% Below IPO Price
Continued to Decline and Closed Lower After Listing

Aegis Residence REIT's investment in Bupyeong The Sharp exterior view (Provided by Aegis Asset Management)

[Asia Economy Reporter Minwoo Lee] Aegis Residence Trust Real Estate Investment Company (REITs) and Mirae Asset Maps No.1 REIT closed below their offering prices on their first day of listing.

According to the Korea Exchange on the 5th, Aegis Residence REIT closed at 4,190 KRW, down 6.89% from the opening price of 4,500 KRW. Mirae Asset Maps REIT, which started at the same opening price, also ended the day at 4,350 KRW, down 3.33%. Both started trading 10% below the offering price of 5,000 KRW and failed to recover by the close of their first trading day.

Aegis Residence REIT is the first rental housing-based REIT launched domestically by Aegis Asset Management, a real estate specialized asset management company. It invested in equity securities related to 'Bupyeong The Sharp' located in Incheon. Mirae Asset Maps REIT is Mirae Asset Asset Management's first REIT, investing in commercial facilities at Central Prugio City, located in the core commercial district of Gwanggyo New Town, Gyeonggi Province.

Aegis Residence REIT, managed by Aegis Asset Management, is a rental housing-based REIT investing in equity securities related to 'Bupyeong The Sharp' in Incheon Metropolitan City, developed through a public-supported private rental housing project. Mirae Asset Maps REIT is the first REIT managed by Mirae Asset Asset Management, investing in commercial facilities at Central Prugio City in Gwanggyo, Gyeonggi Province.

Both REITs showed weak subscription rates among general investors, making the poor performance on the first day of listing a predictable outcome. The subscription competition ratios for Aegis Residence REIT and Mirae Asset Maps REIT were 2.6 to 1 and 9 to 1, respectively. This contrasts sharply with last year's listings of Lotte REIT and NH Prime REIT, which recorded competition ratios of 63.3 to 1 and 317.6 to 1, respectively.

This content was produced with the assistance of AI translation services.