The real estate investment trust (REIT) of property developer Ayala Land, Inc. (ALI) secured the approval of the Securities and Exchange Commission (SEC) for its property-for-share swap worth P11.26 billion.
THE real estate investment trust of property developer Ayala Land, Inc. secured the approval of the Securities and Exchange Commission for its property-for-share swap worth P11.26 billion.
The transaction price is at P44.65 per share, which brought the projected yield of the assets to be infused to 6%. “The new assets are expected to contribute to earnings of the company in the succeeding periods,” the company added. In line with the approval of the SEC, AREIT and ALI have amended the deed of exchange the parties signed in recognition of the income from the new assets of AREIT in the fourth quarter of 2022.
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