PH realty player Filinvest Land’s REIT sets final price for $250m IPO

A trader takes orders on a telephone at the Philippine Stock Exchange. Source: Reuters

Philippines-listed real estate developer Filinvest Land‘s real estate investment trust (REIT) subsidiary has set the final price of its initial public offering (IPO) at 7 pesos per share, about 15.7% lower than the original price of up to 8.30 pesos per share.

In a disclosure to the Philippine Stock Exchange (PSE) Wednesday, Filinvest Land said Filinvest REIT Corp, formerly Cyberzone Properties Inc, has set the final offer price of its IPO at the mid-point of the range and expects to raise up to 12.6 billion pesos ($250 million) in gross proceeds.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter