Megaworld sets final offer price of REITs initial public offering

ABS-CBN News

Posted at Sep 10 2021 12:04 PM

MANILA— Megaworld on Friday said it has set the final offer price for its real estate investment trust offering MREIT at P16.10 per piece. 

The final number of offer shares is 844,300,000 with up to 105,537,500 option shares, MREIT Inc said in a disclosure to the stock exchange. 

"The Company has decided to price the deal at an attractive level to provide more upside to IPO investors who will be its long-term partners in this new journey," MREIT Inc president Kevin Tan said in a separate statement.

At this price, investors could project "an attractive" dividend yield of 5.65 percent, he added.

Megaworld intends to use the proceeds to fund 21 projects all over the country in the next 12 months, Tan said.

The Andrew Tan-led developer earlier said it aims to make its REITs offering as among the biggest in Southeast Asia.

- with a report from Michelle Ong, ABS-CBN News