Samsung FN REITs Records 1.87 to 1 Competition Rate in General Subscription
Samsung FN Trust Management Real Estate Investment Company (Samsung FN REITs), the first publicly offered REITs (Real Estate Investment Trusts) of Samsung Group, recorded a subscription competition rate of 1.87 to 1 for its public offering to general investors.
Samsung FN REITs conducted a general subscription over two days from the 27th to the 28th, achieving a competition rate of 1.87 to 1. Previously, a demand forecast targeting institutional investors recorded a competition rate of about 25 to 1.
After listing, Samsung FN REITs will provide stable cash flow through quarterly dividends in January, April, July, and October. It plans to grow into a large-scale REIT by incorporating various real estate underlying assets utilizing its held preemptive purchase negotiation rights.
Samsung FN REITs is the first publicly offered REITs of Samsung Group, with full efforts from four Samsung Financial Networks companies: Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung SRA Asset Management, and Samsung Securities. Samsung Life Insurance and Samsung Fire & Marine Insurance participate as sponsors, securing asset acquisition competitiveness and a stable operational foundation based on strong sponsors. It has built a core asset portfolio based on Daechi Tower and S-One Building, located in key domestic business districts.
A representative of Samsung FN REITs stated, "We boast differentiated reliability and stability based on high-quality assets and sponsors," adding, "After listing, we will mobilize all operational experience and capabilities to ensure Samsung FN REITs grows into a leading REIT in Korea."
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Samsung FN REITs will complete payment on the 30th and be listed on the KOSPI market on the 10th of next month. The joint lead managers are Samsung Securities and Korea Investment & Securities, and the joint managers are NH Investment & Securities and KB Securities.
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