AREIT share sale earns ALI P2.71B

By Earl John Alfaro

Sep 21, 2024 12:16 am

PROPERTY developer Ayala Land Inc. (ALI) said Friday that it raised P2.715 billion in fresh funds from an 'oversubscribed' block sale of 75 million common shares of its real estate investment trust AREIT Inc., at a price of P36.20 apiece, via a placement agreement with UBS AG Singapore branch and BPI Capital Corp.

'The transaction was multiple times oversubscribed, given the solid demand from high-quality, long-only institutional investors,' ALI said in a stock exchange filing.

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