The Securities and Exchange Commission (SEC) has approved Filinvest REIT Corp.’s real estate investment trust (REIT) plans.
The REIT sale that is sponsored by Filinvest Land Inc. (FLI) intends to raise as much as P14.92 billion.
Filinvest REIT, formerly Cyberzone Properties Inc., is looking to issue to the public 1.79 billion secondary shares at an offer price of up to P8.30 per share, divided into an initial 1.63 billion shares, covering the firm share, and another 163.42 million shares covering the greenshoe option. The share sale will be handled by BPI Capital Corp., and UBS as joint global coordinator and bookrunner. Filinvest REIT expects to conduct the REIT IPO between July 19 and 28, 2021 with listing eyed on Aug. 6, 2021.
Filinvest REIT is registered with the PEZA as an economic cone facilities enterprise which owns and operates the IT buildings in Northgate Cyberzone, located within Filinvest City. It also owns office buildings in Filinvest Cyberzone Cebu in Cebu City.
