The Philippine Stock Exchange Inc. (PSE) has approved the initial public offering (IPO) application of Premiere Island Power REIT Corp. (Premiere REIT), the second real estate investment trust (REIT) of the Villar Group. Know more:
The Philippine Stock Exchange Inc. has approved the initial public offering application of Premiere Island Power REIT Corp. , the second real estate investment trust of the Villar Group.
The company is envisioned to be the power and infrastructure REIT platform of Prime Asset Venture Inc. Premiere REIT’s offer period is scheduled for November 28 to December 5, while its tentative listing date is on December 15. It will have a stock symbol of PREIT. Net proceeds from the offer could reach up to P3.09 billion, assuming the overallotment option is fully exercised. The selling shareholders will receive the full amount of the proceeds, which will be reinvested in the Philippines.
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