Robinsons Land Commercial REIT asset, Cybergate Naga. (RL Commercial REIT)

Robinsons Land (RL) Commercial REIT has kicked-off its initial public offering (IPO) exercise, which opened on 25 August at 9 am.

The IPO is seeking to raise up to PHP23.53 billion (USD460 million) by offering 3,342,864,000 common shares at PHP6.45 each.

The IPO price is lower than the PHP7.31 ceiling indicated in the REIT’s preliminary prospectus.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.