IPO

On July 11, the Philippines’ Securities and Exchange Commission (SEC) approved an initial public offering (IPO) for Ayala Land’s REIT subsidiary, AREIT, the first of its kind in the country and sets the pace for more REIT listings

The company is considering listing the assets as a real estate investment trust as soon as by the end of this year, and could raise as much as $700 million, the people said.

The manager says that the REIT’s placement tranche attracted strong interest from investors including sovereign wealth funds, long-only institutional investors, insurance firms, multi-strategy funds and family offices.

Century Properties Group is also looking to participate in the REIT sector, the Philippines’ press reported. DoubleDragon Properties Corp is interested, as are Vista Land and Megaworld, according to the Philippines press.

The year’s potential first real estate investment trust IPO, Elite Commercial REIT lodged its prospectus on Jan 17. Trading is likely to be in sterling and distributions will be declared in GBP. Each unitholder will receive his distr

(Dec 4): The institutional tranche of Saudi Aramco’s planned initial public offering (IPO) has been almost three times oversubscribed, receiving orders worth 189.04 billion riyals ($69.8 billion), financial advisers for the IPO said on Tuesday.

SINGAPORE (Dec 3): Something is brewing at Thai Beverage.

(Dec 2): Walking around shopping malls this holiday season, I noticed one thing that was not there last year, or in the years before. Many big malls across America have built huge net cages, some smack in the middle of the mall, that are being used to dem

SINGAPORE (Dec 2): Far East Consortium International, the Hong Kong developer, is considering a REIT in Singapore that could raise as much as $500 million, people with knowledge of the matter said.

SINGAPORE (Oct 10): Singapore’s Temasek Holdings Pte has decided against investing in Saudi Aramco’s initial public offering, in part over environmental concerns, according to people familiar with the matter.