MANILA, Philippines — Filinvest Land Inc. is getting closer to the much-anticipated stock market debut of its own real estate investment trust (REIT) company. Including an over-allotment option of up to 163 million shares, the Filinvest-backed REIT firm is expected to raise up to P14.9 billion. Filinvest earlier set its REIT portfolio to include office buildings for the business process outsourcing (BPO) sector in Northgate Cyberzone in Filinvest City in Alabang and Filinvest Cyberzone in Cebu City. That first REIT came less than a year after the government finalized contentious tax and public float rules that left the REIT sector languishing for over a decade despite a 2009 law for that purpose. Shares in Filinvest ended flat at P1.17 each on Wednesday.

Source: Philippine Star March 10, 2021 07:18 UTC