Gotianun-led Filinvest Land Inc. (FLI) has spun off its business process outsourcing office (BPO) property assets, mostly in Northgate Cyberzone in Alabang, into a real estate investment trust (REIT) that seeks to sell as much as P14.9 billion worth of shares through an initial public offering (IPO).
FLI plans to offer up to 1.63 billion secondary common shares in Cyberzone Properties Inc. (CPI), which will be renamed Filinvest REIT Corp., for as much as P8.30 per share. About 163.42 million additional shares will be up for sale as part of an overallotment option.
Pioneer
CPI is one of the pioneer BPO office space providers in the country. Its REIT portfolio consists of 16 office to…
Keep on reading: Filinvest’s REIT headed for P14.9-B public debut