Philippines' Ayala Land Inc on Wednesday priced the country's first real estate investment trust (REIT) offering, allowing its subsidiary to raise as much as 13.569 billion pesos ($274.9 million).
The final offer price for the initial public offering of AREIT Inc was set at 27 pesos ($0.55) per share, a tad lower than the maximum filing price of 30.05 pesos each, the company said in a notice to the stock exchange.
AREIT plans to sell as many as 502.57 million shares, including an over-allotment option, from July 27 to Aug. 3.
(Reporting by Neil Jerome Morales; Editing by Ed Davies)
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| 28.45 PHP | 0.00% | +5.57% | 7.32B | ||
| 0.255 SGD | +2.00% | +4.08% | 382M | ||
