Average Dividend Yield of 6.4% Expected Over Seven Years
Daishin Financial Group announced on the 27th that 'Daishin Value REIT,' which includes the headquarters building 'Daishin343,' has successfully completed a pre-IPO equity investment worth 20.24 billion KRW.
The pre-IPO of 'Daishin Value REIT' saw participation from major insurance companies, followed by mega investment banks such as KB Securities and Korea Investment & Securities, as well as numerous financial institutions. Additionally, several institutional investors including Kyobo AIM Asset Management's blind fund, K Clavis Asset Management, and GRE Partners Asset Management's funds also took part.
It is interpreted that institutional investors decided to invest due to the high value of Daishin Financial Group's headquarters and the stability of its dividends.
Daishin Value REIT has entered into long-term lease contracts of up to 10 years with group affiliates including Daishin Securities. It is expected to provide an average dividend yield of approximately 6.4% over seven years through quarterly dividends.
Daishin Value REIT is Korea's first financial and developer-type REIT. Its first asset, 'Daishin343,' is considered a prime asset located in the core of the CBD (Central Business District) with excellent accessibility to Gangnam.
Park Young-gon, Head of REIT Investment Division at Daishin Asset Trust, stated, "Several institutional investors participated early due to the value and safety of the Daishin343 building," adding, "It is expected to be an attractive investment option for individual investors as well, coinciding with the period of declining interest rates."
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