SM Prime defers $1-B REIT listing

Investors eager to buy into the planned real estate investment trust of SM Prime Holdings Inc., a leading integrated property developer in Southeast Asia, will have to wait longer as the $1 billion initial public offering has been deferred to “beyond 2026.”

- By JAMES A. LOYOLA

During the Philippine Stock Exchange STAR Investor Day, SM Prime Chief Finance Officer John Nai Peng C. Ong said, “The plan in terms of having a REIT [real estate investment trust] is still there. But, we have to be upfront to say that in terms of timing, we have to defer the plan.”