SEC clears Ayala Land’s REIT offering

The Securities and Exchange Commission (SEC) has cleared Ayala Land Inc.’s planned first real estate investment trust (REIT) public offering. In a statement on Friday, the commission said it “considered favorably” the registration statement of Areit Inc. for 1.09 billion common shares for listing and trading on the main board of the Philippine Stock Exchange (PSE) under the symbol “AREIT.”

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