Premiere Island Power REIT Corp. (PremiereREIT) may potentially raise P2.42 billion in its planned initial public offering as it prices the fund- raising activity at P1.50 apiece.
The company is looking to sell to the public up to 1.6 billion secondary common shares divided into an initial 1.4 billion firm shares and another 210 million covering the greenshoe option.
PremiereREIT is sponsored by Prime Asset Ventures Inc. (PAVI) subsidiaries S.I. Power Corp. (SIPCOR) and Camotes Island Power Generation Corp. (CAMPCOR).
PremiereREIT eyes to hold the offer between November 28 and December 5 with listing eyed on December 15.
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