Why is JEM not included in the recent Lendlease Global REIT IPO?

The likelihood is that JEM still have some growth in profits to come. Parent sponsor jormally sell assets to their child REIT when assets mature and how high valuation to milk REIT holder fully. Jem is probably the calf that has not fully grown to a cow yet

Think Lendlease only worth investing if it inject JEM and/or Parkway Parade