SEC clears Gotianun family’s P14.9B REIT IPO

The Securities and Exchange Commission has approved a P14.92 billion initial public offering planned by the real estate investment trust (REIT) of Gotianun-led Filinvest Land Inc.

FLI, through Cyberzone Properties Inc., is offering to the public as much as 1.63 billion common shares of CPI at a maximum price of P8.30 per share with up to 163.42 million common shares set aside for the over allotment option.

To be renamed Filinvest REIT Corp., CPI stands to gain around P14.35 billion assuming the over allotment option is fully exercised.

One of the pioneer BPO office space providers in the country, CPI will have a REIT portfolio of 16 office towers, one of which has a retail component in Northgate Cyberzone in Filinvest City, Alabang.

BPI Capital Corp. is the joint global coordinator, bookrunner and underwriter while UBS AG Singapore Branch is the joint global coordinator and bookrunner.

The IPO will run from July 19 to 28. The shares will start trading on the stock exchange on Aug.6.

Proceeds will fund the construction of FLI’s office, mall and warehouse projects as well as land banking initiatives.

SOURCE: Bilyonaryo

Categories: filinvest, gotianun, REIT