[IPO Spotlight] KB Star Global REITs to List in September, Retail Investors Buy Large Corporations' Overseas Real Estate

[Asia Economy Reporter Park So-yeon] KB Asset Management's first public offering listed REIT, 'KB Star Global REIT,' will enter the KOSPI in September. Starting with core assets such as the North Galaxy Tower, occupied by the Belgian Ministry of Finance, it plans to add overseas real estate owned by major domestic corporations in the future.

According to the investment banking (IB) industry on the 7th, KB Asset Management is currently holding investor briefings for institutional investors and others to conduct pre-IPO equity investments before the listing of KB Star Global REIT.

Pre-IPO will be conducted for institutional investors in July, followed by a public offering for individual investors in August, and it will be listed on the KOSPI in September.

KB Star Global REIT recently acquired 100% equity of North Galaxy Tower through its private subsidiary REIT, KB Star Galaxy Trust Management REIT.

The parent REIT, KB Star Global REIT, acquires shares of the subsidiary REIT. North Galaxy Tower, which was owned by the Belgian Building Management Office, is currently used by the Belgian Ministry of Finance.

The total assets of the REIT are approximately 500 billion KRW, with 450 billion KRW invested in North Galaxy Tower located in Brussels, Belgium, and 50 billion KRW invested in Samsung's European headquarters (HQ) in London, UK.

KB Asset Management plans to add more high-quality domestic and overseas real estate assets to this REIT and grow it to a scale of 10 trillion KRW within the next 10 years.

KB Star Global REIT is considered a stable investment destination as a KB Financial Group affiliate will act as an anchor investor by investing 40% of the shares. Investors can indirectly invest in real estate with small amounts like stocks and receive stable dividend income similar to monthly rent.

By acquiring shares of overseas real estate owned by large corporations and incorporating them as assets while listing, it can serve as a channel for corporate real estate securitization. From the perspective of individual investors, purchasing KB REIT products enables investment in high-quality overseas real estate of major domestic corporations.

A KB Asset Management official hinted, "We are currently in discussions to add high-quality overseas real estate of major domestic corporations as additional assets."

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