In a disclosure to the Philippine Stock Exchange, ALI said it sold 87.37 million AREIT shares at a transaction price of P39.70 per share.The shares sold to qualified institutional buyers in the US as well as in the Philippines. The sale of the Offer Shares is exempt from the registration requirements of the SRC, and the said shares were not registered with the Securities and Exchange Commission.
ALI said it will submit the required Reinvestment Plan detailing the use of proceeds obtained from the share sale transaction in due course. This new asset infusion will expand AREIT’s gross leasing area to 673 thousand square meters or P64 billion in Assets Under Management in 2022 – a 113 percent increase since AREIT went public.
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