Property developer SM Prime Holdings Inc. said Tuesday it will postpone its planned $1-billion real estate investment trust offering amid the current interest rate environment and market volatility.
“Given the interest rate environment and market volatility, I don’t think we can do it this year. But we will continue to assess as we move forward,” Lim said. The proceeds from the fund-raising was supposed to fund the planned reclamation project in Pasay City. “We are following our timeline. We have worked out a concept program in order to speed up, catch up on our timeline. so far we’re on track,” Ang said.
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