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Manila, Philippines Real Estate

Another Villar REIT Firm Prepares For P3.2 Billion (US$56 Million) IPO (Manila Standard)

September 20, 2022 – The Villar Group is listing another company―Premiere Island Power REIT Corp.—in the stock exchange to raise up to P3.2 billion in fresh capital for power infrastructure investments.

PremiereREIT said in a statement over the weekend it filed with the Securities and Exchange Commission an application to conduct a real estate investment trust offering in November.

PremiereREIT is a power and infrastructure real estate investment trust sponsored by Prime Asset Ventures Inc., the investment holding company of Manuel Paolo Villar, the eldest son of billionaire Manuel Villar.

PremierREIT plans sell 1.4 billion in secondary common shares at a maximum price of P2 per share, with an over-allotment option for another 210 million in secondary common shares.

Read more here..

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