PH-listed Ayala Land gets initial nod for country’s first REIT IPO

PH-listed Ayala Land gets initial nod for country’s first REIT IPO

A visual of one of Ayala Land's township projects.

The Securities and Exchange Commission (SEC) of the Philippines has issued a pre-effective approval for the initial public offering (IPO) of the country’s first-ever real estate investment trust (REIT) sponsored by listed property giant Ayala Land, which seeks to raise up to 15 billion pesos ($303 million).

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