Mirae Asset Maps No.1 REITs, Full-Scale 추진 for Listing on the Korea Exchange

Offering price set at 5,000 KRW per share, total planned offering amount 72 billion KRW
Demand forecast on 8-9th, public subscription from 13th to 15th

[Asia Economy Reporter Koo Eun-mo] Mirae Asset MAPS No.1 REIT, the first REIT (Real Estate Investment Trust) managed by Mirae Asset Global Investments, is planning to list on the Korea Exchange.

Mirae Asset MAPS No.1 REIT announced on the 3rd that it has officially entered the public offering process following the effectiveness of its securities registration statement.

MAPS No.1 REIT is a REIT investing in the commercial facilities of Gwanggyo Central Prugio City, located in a prime area within Gwanggyo New Town, Gyeonggi Province. The area around Gwanggyo New Town secures a substantial hinterland demand of approximately 1.6 million people from adjacent densely populated residential areas such as Suwon old town, Suji, and Bundang. Gwanggyo New Town is characterized by its high growth potential as a self-sustaining economic base complex city, with large-scale office facilities concentrated such as Samsung Electronics Suwon Digital City, Gwanggyo Technovalley, and the Legal Town.

Currently, the commercial facilities are occupied by tenants and subtenants with excellent credit ratings. Key affiliates within the GS Group and Lotte Group have signed lease and sublease contracts until September 2035, with a remaining lease period of over 15 years, which is the longest among REITs already listed in Korea.

According to the company, the dual credit enhancement structure minimizes risks related to economic fluctuations, and assuming a 10-year investment horizon, the average annualized dividend yield is expected to be in the low 6% range. In particular, investors participating in this public offering are scheduled to receive a dividend yield in the high 7% range approximately four months after the listing date.

MAPS No.1 REIT plans to maximize portfolio value by incorporating additional assets such as offices, logistics warehouses, and data centers located in major key areas in the future, aiming to maximize profitability and minimize risk to enhance investment value.

The number of shares to be offered in this public offering for the listing is 14.4 million shares, with a fixed offering price of 5,000 KRW per share, and the expected offering amount is 72 billion KRW.

From the 8th to the 9th, demand forecasting will be conducted targeting domestic and foreign institutional investors, and from the 13th to the 15th, public subscription will be held for general investors. The lead underwriter is Mirae Asset Daewoo, the joint underwriter is Shinhan Financial Investment, and the underwriting group includes SK Securities.