Ayala Reit's IPO to blaze trail for other Philippine issuers
The pioneer Reit issuer says it had to educate investors on Reits and brave the uncertainty around Covid-19
Singapore
AYALA Land Reit (AReit) had a rough ride listing on the Philippine Stock Exchange (PSE) in August, being the first-ever issuer to lodge a Reit initial public offering (IPO) in the Philippines, and in the midst of the Covid-19 uncertainty no less.
Prior to its 13.6 billion peso (S$382 million) listing, it even had to do the ground work of educating investors on Reits to help them feel comfortable about investing in an asset class that has thus far never been availed to the investing public before. Through its underwriter, BPI Capital, the Reit management developed a "Reit 101" information campaign - cascading articles, video and other content through traditional and social media. It complemented this with briefings for analysts and roadshows for local institutional and retail clients.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Reits & Property
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Frasers Centrepoint Trust posts 1.8% drop in H1 DPU to S$0.06022
MPACT posts 1.8% higher Q4 DPU of S$0.0229
CapitaLand China Trust posts 7.7% drop in Q1 NPI to 313.1 million yuan
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds