The Philippine Stock Exchange has approved the initial public offering of the Villar Group’s Premiere Island Power REIT Corp., estimated to raise up to P3.2 billion.
The Securities and Exchange Commission (SEC) has approved the planned P3.22 billion initial public offering (IPO) of Premiere Island Power REIT Corporation (PREIT), the power and infrastructure REIT platform of Villar-led Prime Asset Ventures, Inc.
The SEC said PREIT is a real estate investment tr
The group of property tycoon Manuel Villar Jr. is braving the stock market again this year, despite the prevailing volatility, to raise P3.1 billion from its real estate investment trust unit, the second such listing for the group.