Philippine Stock Exchange (PSE) Clears P9.2 Billion (US$180 Million) IPO Of Villar REIT (Inquirer)
May 17, 2022 – Philippine billionaire Manuel Villar Jr.’s VistaREIT Inc. (VREIT) is set to launch its P9.2-billion initial public offering (IPO) at the end of the month after bagging the approval of the Philippine Stock Exchange (PSE) on Monday.
Villar’s entry into the real estate investment trust (REIT) segment will add to five other REIT companies listed on the local bourse. These are Citicore Energy REIT Corp., DDMP REIT Inc., Filinvest REIT Corp., MREIT Inc. and RL Commercial REIT Inc.
The company was earlier targeting to hold its public offering in April. According to the PSE, VREIT will now offer as much as 3.67 billion shares at a maximum offer price of P2.50 per share from May 30 to June 3.
The IPO shares will be priced on May 25 while the PSE trading debut of VREIT is targeted on June 15 this year.
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