AREIT Inc.
MANILA, Philippines – Property giant Ayala Land Inc. (ALI) has raised P2.67 billion from the sale of a portion of its stake in AREIT Inc., as it continues to recycle capital for future investments.
In a disclosure on Tuesday, ALI said it sold 75 million common shares of AREIT, its sponsored real estate investment trust, at P35.60 per share through a block sale arranged by UBS AG Singapore Branch and BPI Capital Corp.
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