PLDT's VITRO REIT files for IPO, targets ₱24.2B from 1.91B shares
PLDT Inc. announced its wholly-owned subsidiary, VITRO Inc. (to be VITRO REIT), submitted a registration statement for a proposed Initial Public Offering (IPO) with the Philippine SEC. The IPO aims to raise up to ₱24.2 billion by offering up to 1,913,043,500 secondary common shares, with an over-allotment option, at up to ₱11.0 per share. This move is intended to unlock value from PLDT Group’s digital infrastructure portfolio and support VITRO REIT's expansion, which will initially comprise eight data center assets.
Key Highlights
- VITRO REIT (PLDT subsidiary) submitted IPO registration statement to Philippine SEC.
- Proposed IPO aims to raise up to ₱24.2 billion in gross proceeds.
- Offer includes up to 1,913,043,500 secondary common shares.
- Over-allotment option for up to 286,956,500 secondary common shares.
- Offer price set at up to ₱11.0 per share.
- Offer Shares to represent approximately 48.95% of VITRO REIT's capital post-IPO.
- Initial portfolio includes eight data centers with approximately 24 MW Total IT Ready Capacity.
- ePLDT plans to use net proceeds for debt repayment and other reinvestment.
Price Impact
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