Ayala Land's AREIT sets real estate investment trust IPO at P27 per share

MANILA -- Ayala Land on Thursday said its maiden real estate investment trust listing under AREIT will be priced at P27 per share that's expected to raise P12.335 billion.

The initial public offering will sell up to 456,883,000 common shares of AREIT, and offer up to 45,688,700 optional shares under an over-allotment option, it said.

The offer period will run from July 27 to August 3, while listing date of AREIT's shares will be on August 13, 2020. AREIT said net proceeds from the primary offer will be used to fund the acquisition of Teleperformance Cebu, while proceeds from the secondary offer shall be reinvested by Ayala Land in its other real estate projects.

"Ayala Land as sponsor is committed to grow and support AREIT post-listing. Assuming full exercise of the over-allotment option, ALI shall remain as majority shareholder, holding a 51% interest in AREIT," it added.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Founder of investment scam nabbed in Surigao del SurApart from capturing Apolinario, police also seized a cache of high-powered firearms.
Source: cebudailynews - 🏆 8. / 71 Read more »

Founder of investment scam nabbed in Surigao del SurPolice authorities arrested Joel A. Apolinario, founder of Kapa Ministries, which ran an investment scam that duped thousands of unsuspecting investors.
Source: inquirerdotnet - 🏆 3. / 86 Read more »