PROPERTY giant Ayala Land Inc. (ALI) has successfully raised P3.18 billion, exclusive of fees and taxes, following a block sale of shares in its real estate investment trust, AREIT Inc.
PROPERTY giant Ayala Land Inc. has successfully raised P3.18 billion, exclusive of fees and taxes, following a block sale of shares in its real estate investment trust, AREIT Inc.ALI and its wholly owned unit, Westview Commercial Ventures Corp., sold a total of 98 million common shares of AREIT at a price of P32.45 apiece, pursuant to a placement agreement with BPI Capital Corp. and UBS AG Singapore branch.
The shares were said to have been sold outside the United States in compliance with Regulation S under the US Securities Act of 1933 and offered within the US as well to qualified institutional investors.The shares were also sold in the Philippines via transactions that did not require registration under the Securities Regulation Code .
Land Raises P3.2B From Share Sale
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