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AREIT eyes up to P9 B additional share offering
The Philippine Star
|January 29, 2024
AREIT Inc. is planning a follow-on offering or private placement of shares to boost its public float which would decrease following a major propertyfor-share swap transaction with its sponsor Ayala Land Inc.
ALI SVP, CFO and treasurer Augusto Bengzon said the plans for a share offering, which could happen within the year, could involve a private placement of up to P9 billion worth of AREIT shares.
“It’s similar to how we’ve done it in the past. We place it with institutional investors,” said Bengzon, also a director at AREIT.
AREIT would have to take up the matter with its shareholders in a special stockholders meeting in the near term.
This story is from the January 29, 2024 edition of The Philippine Star.
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