Connect with us

Hi, what are you looking for?

News

Filinvest REIT’s IPO offer begins

Northgate Cyberzone in Filinvest City is an 18.7-hectare PEZA-registered business park catering to mostly business process outsourcing companies. — Company handout

Filinvest REIT, Corp. (FILREIT) started the offer period for its P12.6-billion initial public offering (IPO) on Friday, after receiving a permit to sell from the Securities and Exchange Commission.

FILREIT is the real estate investment trust (REIT) unit sponsored by Filinvest Land, Inc. (FLI). It was formerly Cyberzone Properties, Inc.

The offer period runs until Aug. 3. It is scheduled to make its debut at the Philippine Stock Exchange on Aug. 12, under the ticker symbol FILRT.

FILREIT is selling 1.63 billion shares owned by the Gotianun-led property company for P7.00 each, with an overallotment option of nearly 163.42 million.

“At the current price, the projected dividend yield as stated in the REIT Plan is 6.3% for FY2021 and 6.6% for FY20221,” the company said in a statement on Friday.

The company’s initial REIT portfolio includes 17 buildings, 16 of which are in Northgate Cyberzone in Alabang’s Filinvest City and office tower with a retail component in Cebu IT Park in Lahug, Cebu City.

FILREIT said around 88% of its tenants are multinational business process outsourcing (BPO) firms.

Meanwhile, shares of FLI at the stock market on Friday declined by 1.77% or two centavos to close at P1.11 each. — Keren Concepcion G. Valmonte

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

TAIPEI — China is an “arch criminal” intent on bullying Taiwan and has no right to oppose or comment on its bid to join...

News

Official White House Photo by Adam Schultz WASHINGTON — A first in-person meeting of the leaders of the Quad group of countries — the...

News

PIXABAY UNITED NATIONS — Faced with what they see as an existential threat, leaders from low-lying and island nations implored rich countries at the...

News

StackLeague is now gathering over 6,000 developers, software engineers and programmers all across the Philippines who share the same interest in competing while also...

News

Insights to Inspire aims to spark ideas that empower businesses to pursue bigger goals through data and information. Read our insights on current issues...

News

By Luz Wendy T. Noble, Reporter THE PHILIPPINE central bank kept the benchmark policy rate at a record low on Thursday, as it tries...

You May Also Like

When people envision technology overtaking society, many think of The Terminator and bulletproof robots. Or Big Brother in George Orwell’s Nineteen Eighty-Four, a symbol...

Financial Advisors

Stock Markets9 hours ago (Jul 02, 2020 04:45AM ET) (C) Reuters. ROME (Reuters) – World food prices rose in June to post their first...

Economy

SAN FRANCISCO — The spread of the coronavirus has meant feast or famine for technology start-ups. While many are cutting staff and slashing costs...

Economy

OAKLAND, Calif. — Jack Dorsey has won plaudits for his corporate activism during the coronavirus crisis, taking on President Trump in his role as...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Respect Investment. All Rights Reserved.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!