SEC clears Robinsons Land, Megaworld REIT offerings

The Commission En Bank resolved to render effective the registration statements of Robinsons Land's RL Commercial REIT Inc and Megaworld's MREIT Inc, the SEC said in a statement. "The Securities and Exchange Commission has considered favorably the initial public offerings of real estate investment trusts sponsored by Robinsons Land Corporation and Megaworld Corporation," it said.

RL Commercial REIT will offer up to 3.3 billion secondary common shares for up to P7.31 per share with an overallotment option of up to 305 million common shares. It could raise up to P25.88 billion in net proceeds with the overallotment fully exercised, the SEC said.The company will conduct the initial public offer from Aug. 31 to Sept. 8 and before listing on the stock exchange on Sept. 20.

Filinvest Land's Filinvest REIT Corp, meanwhile, has secured the approval of the Philippine Stock Exchange in July. Watch more on iWantTFC

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