Tower REIT Opens At RM1.06
Tower Real Estate Investment Trust (Tower) was posted at a modest RM1.06 on its April 12 opening day.
Some fast facts:
- At the opening bell, there were 1.01 million units done.
- Within the first 30 minutes of trade, there were 5.68 million shares done at prices ranging from RM1 to RM1.06.
- By 9.30am, it was trading at RM1.00 flat, down seven sen.
- The Tower REIT IPO consists of 2.48 million shares was subscribed by 2.48 times.
According to the Edge, the cautious market following the sharp increase in oil price and also weaker Asian markets affected sentiment in the counter. Japan’s Nikkei 225 fell 1.1% or 193.50 to 17,224.63 at 9.30am. The Kuala Lumpur Composite Index was down 3.12 points to 939.35.
For more info on the Tower REIT, their assets and management company, read the following earlier articles on Property Malaysia:
News on Tower REITs and Axis-REIT
Tower REIT Looking For More Office Buildings
