MREIT marks IPO listing with bell ringing at four locations

The Philippine Stock Exchange, Inc. (PSE) President and CEO Ramon S. Monzon, Department of Finance Secretary Carlos G. Dominguez III, MREIT Inc. President and CEO Kevin L. Tan and MREIT Sponsor Megaworld Corporation Chairman and CEO Dr. Andrew L. Tan led the initial public offering (IPO) listing of MREIT, Inc. (MREIT) through a bell ringing ceremony held at the PSE Trading Floor together with MREIT Executives who were present in key townships of Megaworld where the initial portfolio of 10 properties of MREIT are located.

MREIT raised Php15.29 billion from the sale of secondary and over allotment shares.

In his message, PSE President and CEO Ramon S. Monzon lauded MREIT’s successful maiden offering and take up of investors. “It is no wonder therefore that investors confidently snapped up the IPO shares of MREIT, the offering being almost 2x oversubscribed, according to MREIT’s domestic lead underwriter. Local Small Investors coming from 46 provinces, 13 countries and two territories – namely, the British Virgin Islands and Cayman Islands – likewise invested in MREIT through the PSE EASy IPO platform, no doubt attracted by the Company’s growth prospects and the generous dividend yield of 5.65 percent projected for 2022 and 6.09 per cent for 2023.”

Securities and Exchange Commission (SEC) Chairman Emilio B. Aquino cited the importance of increased REIT offerings to boost the growth of the property sector and put the country in the global REIT map. “With Megaworld’s focus on prime office buildings in established townships, popular among the biggest BPO companies and multinationals. This offering is expected to significantly contribute to nation-building and job creation all over the country.”

The listing ceremony was also attended virtually by PSE Board of Directors led by PSE Chairman Jose T. Pardo, MREIT Board of Directors, SEC Commissioners and heads of investment houses, law and auditing firms. 

Investors may trade REITs through Eligible Brokers. The list of REIT Eligible Brokers is available on the PSE website, www.pse.com.ph.

 

Photo 1 shows from left, by row: PSE Head of Issuer Regulation Division Atty. Marigel B. Garcia, MREIT, Inc. President and CEO Kevin L. Tan, Megaworld Corporation Chairman and CEO Dr. Andrew L. Tan, Department of Finance Secretary Carlos G. Dominguez III, PSE President and CEO Ramon S. Monzon, PSE COO Atty. Roel A. Refran.

Photo 2 shows from left, by row: PSE Chairman Jose T. Pardo; SEC Chairman Emilio B. Aquino, MREIT President and CEO Kevin L. Tan, Megaworld Corporation Chairman and CEO Dr. Andrew L. Tan, Finance Secretary Carlos G. Dominguez III, PSE President and CEO Ramon S. Monzon, MREIT Chairman Francisco C. Canuto; PSE Director Chief Justice Teresita J. Leonardo-De Castro (ret.), Megaworld COO and MREIT Director Lourdes T. Gutierrez-Alfonso, SEC Commissioner Ephyro Luis B. Amatong, Megaworld and MREIT Director Katherine L. Tan, SEC Commissioner Kelvin Lester K. Lee, PSE Director Vivian Yuchengco, PSE Director Eddie T. Gobing; MREIT Independent Directors Antonio E. Llantada, Jr., Sergio Ortiz-Luis, Jr. and Jesus B. Varela, BDO Unibank Chairperson Teresita Sy Coson, PSE Directors Wilson L. Sy and Consuelo D. Garcia.

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