FILINVEST Land Inc. has set the final price for the initial public offering (IPO) of its real estate investment trust (REIT), Filinvest REIT Corp., at P7 per share. Filinvest REIT is set to offer 1.63 billion common shares, with an overallotment option of up to 163.42 million shares, and is expected to net P12.6 billion from the IPO. BPI Capital Corp. and UBS AG, Singapore Branch were tapped as joint global coordinators and bookrunners for the offer. BPI Capital is also the local lead underwriter, along with China Bank Capital Corp. while First Metro Investment Corp. and SB Capital Investment Corp. will serve as local co-lead underwriters. Filinvest REIT currently has 17 Grade A office buildings totaling to over 300,000 square meters of gross leasable area in its property portfolio.

Source: Manila Times July 21, 2021 17:15 UTC