SEC clears AREIT asset swap with ALI

By Brix Lelis

Sep 22, 2023 12:22 am

AYALA-LED AREIT Inc. said Thursday that the Securities and Exchange Commission (SEC) had approved a P22.5-billion property-for-share swap with Ayala Land Inc. (ALI) and two of the latter's subsidiaries.

In a statement, AREIT said that it would be issuing at least 607.6 million primary common shares to ALI and its subsidiaries, AyalaLand Malls Inc. (ALMI) and North Beacon Commercial Corp. (NBCC), at P37 per share.

Already have an active account? Log in here to continue reading.
Or
Subscribe to the Premium Subscription plan to access this subscriber-exclusive article.

Related Articles

Globe nine-month net soars to P20.6B

DMCI Jan-Sept profit plunges 23% to P15B

Sales boost Puregold net income

Two Filinvest projects seen raising P3B

Metro Pacific 9-month income surges

Megaworld net profit buoyed by expansion

Chinabank earnings up by 13% to P18.4B