Investors hot for Philippines’ $273m debut Reit IPO

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By Jonathan Breen
17 Jul 2020

Ayala Land Real Estate Investment Trust (AReit) has struck a chord with investors, which covered the institutional book of its IPO after the first day on the road, according to a source familiar with the matter.

The trust launched bookbuilding for the deal on Thursday. It is gunning for up to Ps13.5bn ($272.5m) in proceeds from its Philippine IPO. 

AReit is floating 456.9m units – 10% of which are primary – and has given the syndicate a 10% greenshoe option of 45.7m secondary units. ...

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