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PSE approves IPO of Filinvest REIT

Filinvest REIT Corp., a real estate investment trust, said Monday it received a notice of approval from the Philippine Stock Exchange Inc. to list 4.892 billion common shares under the main board of the PSE.

The notice of the PSE board approval follows the receipt of the pre-effective letter from the Securities and Exchange Commission which favorably considered the registration statement of FILREIT.

The base offer is up to 1,634,187,850 common shares at a price of up to P8.30 apiece, with an over-allotment option for another 163,418,785 common shares. The shares will represent 36.74 percent of FILREIT’s issued and outstanding capital stock after completion of the offering, assuming the over-allotment option is fully exercised.

The PSE also approved the proposed timetable of FILREIT’s IPO, including the pricing on July 19, the offering period on July 26 to Aug. 3 and listing on Aug. 12.

The property portfolio of FILREIT consists of 17 Grade A office buildings on prime property with over 300,000 square meters of gross leasable area.

Topics: Philippine Stock Exchange Inc. , PSE , IPO , Filinvest REIT Corp.
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