Filinvest REIT Corp., the real estate investment trust company of Filinvest Land Inc., has set the final price of its maiden share offering at P7 apiece.
The company at the price level stands to raise P11.42 billion from the sale of 1.634 million common shares.
The net proceeds from the IPO could increase to P12.53 billion, assuming the over-allotment of 163.41 million common shares is exercised.
The final offering price of P7 per share is 15.6 percent lower compared than the maximum of P8.30 earlier set by the company. It set the offering period from July 26 to August 3.
The shares will be listed under the main board of the Philippine Stock Exchange on August 12.
Filinvest REIT’s property portfolio of consists of 17 Grade A office buildings on prime property totaling over 300,000 square meters of gross leasable area.