FLI creates more room for FILRT asset infusion

Filinvest Land Inc. (FLI), the Gotianun family's listed property developer, is gearing up to infuse more assets into Filinvest REIT Corp. (FILRT) following the completion of its capped voluntary tender offer.

- By RICHMOND MERCURIO

FLI said its capped voluntary tender offer via share-swap enjoyed 2.3x participation in excess of the cap, enjoying significant support from major institutional shareholders and numerous minority shareholders.

The company said around 4.24 billion FLI common shares in applications were received, well above the 1.87 billion share cap.

As a result, FILRT's public float has expanded to 46.68 percent from 34.48 percent prior to the tender offer.