AREIT debut marks first PH REIT offering
A landmark listing ceremony for the country’s first Real Estate Investment Trust was held on August 13, 2020 at the Philippine Stock Exchange (PSE) in Bonifacio Global City. AREIT debuted after it successfully completed its PHP13.6 billion initial public offering following the close of the offer period on August 3.
Philippine Rating Services Corporation (PhilRatings) has assigned an Issuer Credit Rating of PRS Aaa, with a Stable Outlook, to AREIT which aims to promote and strengthen the country’s capital markets.
"With the Ayala Land REIT, we hope to provide investors with a solid investment instrument. It is aligned with the best REIT practices in the region...As a company, AREIT will embody Ayala Land’s time-honored principles of corporate governance. This is a commitment to our Shareholders in ALI and now to our shareholders in AREIT."
- Fernando Zobel de Ayala, Ayala Land Chairman
At the bell-ringing ceremony at the PSE floor were : (top photo from left to right) ALI CFO Toti Bengzon, ALI President and CEO Bobby Dy, AREIT Chairman Junie Jalandoni, SEC Chairman Emilio Aquino, PSE President Ramon Monzon, AREIT President Carol Mills, and SEC Commissioner Ephyro Luis Amatong. Ayala Land Chairman Fernando Zobel de Ayala, together with officers of the PSE and SEC, as well as BPI and BPI Capital executives, AREIT officers and legal counsels, joined the milestone event through a virtual platform.