Citicore subsidiary secures approvals on REIT listing

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Oliver Tan, president and CEO of CREIT, announced that “our application both to the SEC and the PSE for the first energy REIT has been approved,”.

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Citicore REIT Corporation , a subsidiary of Megawide-affiliated Citicore Power Inc., has secured the approvals of the Securities and Exchange Commission and the Philippine Stock Exchange , for its real estate investment trust listing which will be a trailblazing offer for the energy sector.

Oliver Tan, president and CEO of CREIT, announced that “our application both to the SEC and the PSE for the first energy REIT has been approved,” with the company adding that “CREIT expects to offer a stable dividend payout in accordance with the REIT Law.” Additionally, PNB Capital and Investment Corporation and Investment & Capital Corporation of the Philippines will act as local underwriters; while CIMB Investment Bank Bhd and CLSA Limited will be the international bookrunners.

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