May 9, 2013 / 1:26 AM / 6 years ago

Malaysia's biggest ever REIT jumps 3.9 percent on debut

KUALA LUMPUR, May 9 (Reuters) - KLCC Property Real Estate Investment Trust (REIT), Malaysia’s biggest, rose as much as 3.9 percent to 7.53 ringgit per unit on Thursday.

The trust, which is a stapled REIT that bundles existing shares of KLCC Property — owner of the iconic Petronas Twin Towers, and units of KLCC REIT, raises no new money. The corporate restructuring was unveiled in November in a bid to lure yield-hungry investors.

KLCC REIT houses assets in excess of 15 billion Malaysian ringgit.It will be three times bigger than the Sunway REIT . ($1 = 2.9635 Malaysian ringgit) (Reporting By Al-Zaquan Amer Hamzah; Writing By Yantoultra Ngui; Editing by Niluksi Koswanage)

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