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Published August 4, 2021, 5:23 PM
The Securities and Exchange Commission (SEC) has approved the planned initial public offerings (IPO) of real estate investment trusts (REIT) sponsored by Robinsons Land Corporation (RLC) and Megaworld Corporation with a combined value of P54 billion.
The Commission En Banc resolved to render effective the registration statements of RL Commercial REIT, Inc. and MREIT, Inc. covering shares for public offering for as much as P26.7 billion and P27.3 billion, respectively, subject to their compliance with certain remaining requirements.
A REIT is a stock corporation established principally for the purpose of owning recurring income-generating real estate assets that provides a regular return to investors.
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