Daesin Financial Group's First Public Offering Listed REITs 'Daesin Value REITs' Begins Offering Process

[Financial News] Daesin Financial Group's first public offering listed REITs, Daesin Value REITs, has officially started the offering process, announced on the 27th.
According to the securities report, the public offering price of Daesin Value REITs is 5,000 won, with 19.3 million shares to be offered, planning to raise 96.5 billion won through this offering. Demand forecasting for domestic and foreign institutional investors will be conducted on June 12-13, and general investor subscription will be held on June 23-24. The joint lead managers are Daesin Securities and Korea Investment & Securities, with Samsung Securities participating as a joint manager.
Daesin Value REITs is a prime office-based REIT that has incorporated 'Daesin343', the headquarters building of Daesin Financial Group, as its underlying asset. Located in a prime location in Seoul, 'Daesin343' is a prime-grade office building directly developed by Daesin Financial Group, securing a 100% occupancy rate through long-term lease contracts of up to 10 years with group affiliates, aiming for a quarterly dividend yield of approximately 6.35% on average over 7 years.
Prior to this public offering, Daesin Value REITs successfully attracted a pre-IPO investment of 202.4 billion won. Various institutional investors, including large insurance companies, KB Securities, Korea Investment & Securities, Kyobo AIM Asset Management, and K-Clavis Asset Management, participated.
In the future, Daesin Value REITs plans to sequentially incorporate the group's premium development assets such as '343 Gangnam' (Gangnam Station Intersection), 'Seorin 345' (Gwanghwamun Area), and 'Sobong Building' (Cheongdam-dong) to expand assets and strengthen its revenue base. Through a structure that allows integrated management from development, operation, to REITs incorporation within the group, it is building an independent and stable growth model that is not swayed by external environments.
Kim Song-gyu, CEO of Daesin Asset Trust, stated, "Daesin Value REITs is a unique REIT that can pursue both profitability and growth by combining the rental stability of prime offices with the group's development capabilities," adding, "After listing, it aims to leap to a mega REIT with an asset size of 1 trillion won within 1 year and over 2 trillion won within 5 years."
seung@fnnews.com Lee Seung-yeon Reporter