AREIT share sale raises P5.6B for ALI

By Brix Lelis

Jan 27, 2024 12:19 am

PROPERTY developer Ayala Land Inc. (ALI) on Friday successfully raised about P5.6 billion, exclusive of fees and taxes, from a block sale of shares in its real estate investment trust, AREIT Inc.

ALI and its wholly owned subsidiaries, AyalaLand Offices Inc. and Glensworth Development Inc., sold a total of 181 million common shares in AREIT at a price of P31.10 per share.

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