MALAYSIA: Axis Global Islamic REIT has postponed its initial share sale to wait out volatile market conditions resulting from the recent downgrade of US credit rating by S&P.
The REIT, initially slated to be listed on Bursa Malaysia in June, was then pushed to the middle of August following the destruction of two buildings in its portfolio when an earthquake struck Japan in March.
It is uncertain when Axis-REIT Management will re-launch the deal as it is still in the pre-marketing stage.