Citicore REIT IPO starts on February 2
The initial public offering of Citicore Energy REIT Corp. (CREIT) is scheduled from February 2 to 8 , following approval of the Philippine Stock Exchange (PSE) of its maiden share sale.
The company is offering up to 2.78 billion primary and secondary shares and up to 418.34 million over-allotment shares.
CREIT’s shares will be offered at a price of up to P3.15 apiece. The final offer price will be determined on January 26 after the company conducts its book building process.
The tentative listing date is scheduled on February 17.
“The PSE had a good REIT pipeline last year and we hope to duplicate, if not exceed, that this year. We are pleased to finally have a non-property REIT debut in the stock market. We are optimistic that this will pave the way for other companies to consider establishing non-property REITs and offer their shares to the public,” said PSE President and CEO Ramon Monzon.
Ten percent of CREIT’s firm offer shares will be reserved for local small investors (LSIs), who may subscribe to the IPO through the PSE EASy website or mobile application. PSE Information Desk
