ALI to issue first REIT listing in PH 0 SHARES Share it! Jose Emmanuel Jalandoni, ALI Group Head for Commercial Business Group, said on Wednesday that ALI wants to make the country’s first REIT issuance within the year even amid ongoing efforts to revise some provisions in the REIT law. ALI President Bobby Dy said even with the current rules, the company decided to proceed with its first REIT listing because “we feel it’s a new vehicle for us to be able to grow”. Based on the amended Implementing Rules and Regulations (IRR) of the REIT law, REIT companies should have a minimum 44 percent public float for the first year of their listing. Within the month, the company should come up with the prospectus for the issuance, which would specify which ALI assets should be listed under REIT.
Source: Manila Bulletin April 24, 2019 14:13 UTC