The Securities and Exchange Commission (SEC) has cleared the real estate investment trust (REIT) offerings of Robinsons Land Corp. (RLC) and Megaworld Corp.
The Securities and Exchange Commission (SEC) has cleared the real estate investment trust (REIT) offerings of Robinsons Land Corp. (RLC) and Megaworld Corp.
RL Commercial REIT Corp. plans to raise as much P26.7 billion from the sale of 9.95 billion common shares at a maximum price of P7.31 each share with an over allotment option of up to 305.1 million shares.
Megaworld’s MREIT, meanwhile, is offering 1.078 billion secondary shares at up to P22 per share with an over allotment option of up to 161.7 million common shares. The initial public offering could fetch as much as P27.3 billion should the over allotment option be fully exercised.
RLC’s REIT offering will run from Aug. 31 to Sept.8 while its listing at the PSE has been scheduled on Sept. 20.
BPI Capital Corp. and UBS AG, Singapore Branch are the joint global coordinators, lead managers, and joint bookrunners for RLC’s REIT offer.
RLC’s REIT portfolio includes 14 commercial real estate assets with an aggregate gross leasable area of 425,315 square meters.
Megaworld, meanwhile, plans to kick off its IPO on Aug. 23 to 27 and start trading the shares on bourse on Sept. 6.
BDO Capital & Investment Corporation, Credit Suisse (Singapore) Limited, UBS AG Singapore Branch, and DBS Bank Ltd. have been tapped as joint global coordinators and bookrunners for the offer.
MREIT’s initial portfolio covers an aggregate GLA of 224,430.8 sq.m. across 10 properties, with an aggregate appraised value of about P49.32 billion. Its properties are spread out across Metro Manila, primarily in Taguig City and Quezon City, as well as in Iloilo City.
Proceeds from the twin offerings shall be reinvested in the Philippines pursuant to the Revised Implementing Rules and Regulations of the Real Estate Investment Trust (REIT) Act of 2009.
SOURCE: Bilyonaryo
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