MANILA, Philippines — Tycoon Andrew Tan-led Megaworld Corp. plans to raise as much as P27.3 billion from the sale of a 49-percent stake in a business process outsourcing industry (BPO)-focused real estate investment trust (REIT) called MREIT Inc., which the group is grooming to become Southeast Asia’s largest REIT in terms of portfolio scale.
At the maximum size, this is potentially the largest REIT initial public offering (IPO) to come to the local stock market, edging out curtain-raising AREIT Inc.’s P15.1-billion listing last year and DDMP REIT’s P14.7-billion stock debut last March. It is also potentially bigger than other REIT offerings in the pipeline, which includes RLC R…
Keep on reading: Megaworld seeks P27.3 billion in Philippines’ largest REIT listing