Friday 29 Mar 2024
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KUALA LUMPUR (June 21): IGB Bhd said today shareholders can now subscribe to IGB Commercial REIT's units via electronic means in view of the resurgence of the Covid-19 pandemic.

The group said in a statement it had introduced digital and cashless alternatives for application and acceptance in addition to methods stated in the prospectus.

“This way, shareholders do not need to risk leaving their homes and can subscribe to the restricted offer for sale from home,” it said.

Meanwhile, the group said its shareholders on April 28 approved the establishment of IGB Commercial REIT in an extraordinary general meeting (EGM) providing an opportunity to IGB shareholders to participate in the REIT directly through subscription to their entitlements to the ROFS (restricted offer for sale) units, together with the corresponding distribution-in-specie (DIS) units.

It also said the prospectus was dispatched to shareholders on June 10, and subscription to the restricted offer closes on July 6 at 5pm.

According to the statement, subscription to a shareholder’s entitlement is based on two ROFS units for every five IGB shares at RM1 per ROFS unit.

IGB shareholders who have subscribed to their entitlements will be entitled to receive three DIS units for every two ROFS units subscribed.

The shareholders may also partially subscribe (as partial subscribers) or not subscribe to the ROFS units (non-subscribers), it said.

It also highlighted that partial subscribers and non-subscribers will receive cash raised from the institutional offering after netting off the cash due to IGB (unsubscribed ROFS units multiplied by the ROFS price) and other applicable costs.

Edited ByLam Jian Wyn
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