PROPERTY developer Filinvest Land Inc. (FLI) on Wednesday said that its board had approved a voluntary tender offer to reacquire 1.866 billion common shares in exchange for Filinvest REIT Corp. (FILRT) shares.
PROPERTY developer Filinvest Land Inc. on Wednesday said that its board had approved a voluntary tender offer to reacquire 1.866 billion common shares in exchange for Filinvest REIT Corp. shares. FLI shareholders will get one FILRT share for every 3.11 FLI shares tendered.
75 percent, broadening its shareholder base to well above the Philippine Stock Exchange's minimum public ownership requirement for REITs at 33.33 percent.'With the resulting increase in FILRT's public float, the transaction creates room for further asset infusions from FLI into FILRT,' Filinvest Land said.As of Sept. 23, 2024, shares of FLI were trading at a 30-day and 10-day volume weighted average price of P0.64 apiece, while FILRT traded at a 30-day VWAP of P3.
Stake Offered To FLI Shareholders
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