Ayala Land raises P2.8B from sale of AREIT shares

By Earl John Alfaro

Dec 11, 2024 12:24 am

AYALA-LED property developer Ayala Land Inc. (ALI) said Tuesday that it had raised around P2.78 billion in fresh funds from a share placement agreement with two institutional buyers involving some 75 million common shares of its real estate investment trust arm AREIT Inc.

In a disclosure, ALI said AREIT shares were sold via a placement agreement with BPI Corp. and UBS AG Singapore Branch at P37.00 apiece.

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