* Philippines' second largest REIT share sale

* MREIT plans to add more office assets catering to BPOs

MANILA, Oct 1 (Reuters) - Philippine property firm MREIT Inc's shares rallied on Friday, completing a $300 million public share sale and the country's fifth real estate investment trust (REIT) listing.

Philippine conglomerates have turning to REITs, selling shares in their income-generating real estate assets, to generate fresh capital to fuel post-pandemic expansion plans.

MREIT's shares opened flat, jumping as much as 6.6% before paring gains to end at 16.70 pesos apiece, up 3.7%. The broader stock index fell 0.4% on Friday.

MREIT, a subsidiary of the country's biggest landlord, Megaworld Corp, sold 949.8 million shares, including an overallotment option, at 16.10 pesos each, with the initial public offering (IPO) raising 15.3 billion pesos ($300.59 million).

The company will add more office and commercial assets from a township project in the next two years, MREIT CEO Kevin Andrew Tan said in a statement.

Fresh assets would bulk up MREIT's portfolio, increase rental revenues and grow dividends, he added.

MREIT owns 10 office buildings catering to outsourcing firms and a hotel with a gross leasable area of nearly 225,000 square metres (2.4 million square feet), equivalent to 31 soccer pitches.

A slew of IPOs property and consumer firms are seen helping the Philippines take the rare top slot in terms of fundraising in Southeast Asia https://www.reuters.com/article/us-southeastasia-ipo-philippines-idUSKBN2AJ0DP this year.

($1 = 50.68 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Ed Davies, Martin Petty)