PSE approves Filinvest REIT

·1 min read

FILINVEST REIT Corp., a Real Estate Investment Trust (REIT), received a Notice of Approval on July 8, 2021 from the Philippine Stock Exchange Inc. (PSE) for the listing under the Main Board of the PSE of its 4,892,777,994 common shares, which includes common shares subject to the firm’s Initial Public Offering (IPO), subject to post approval requirements for compliance by the company before the public offering.

The notice of the PSE Board Approval follows the receipt of the Pre-effective Letter from the Securities and Exchange Commission (SEC) dated July 6, 2021 whereby the SEC has favorably considered the registration statement of FILREIT, subject to compliance with certain conditions and the submission of documents as set forth in the Pre-effective Letter.

The base offer is up to 1,634,187,850 common shares at an offer price of up to P8.30 per share, with an over-allotment option of up to 163,418,785 common shares.

The property portfolio of FILREIT consists of 17 Grade A office buildings on prime property totaling over 300,000 square meters of gross leasable area. The 16 buildings are located in Northgate Cyberzone within Filinvest City in Alabang while one is in the gateway of Cebu IT Park in Lahug, Cebu City. (PR)

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