{"id":330874,"date":"2024-12-12T23:07:00","date_gmt":"2024-12-12T15:07:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330874"},"modified":"2024-12-12T23:37:13","modified_gmt":"2024-12-12T15:37:13","slug":"trade-the-news-ali-raises-p2-8-billion-from-sale-of-areit-shares","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-ali-raises-p2-8-billion-from-sale-of-areit-shares\/","title":{"rendered":"Trade the News: ALI raises P2.8 billion from sale of AREIT shares"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEUTRAL on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>AREIT Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>AREIT<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 45.46<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Ayala Land Inc. (ALI) has raised P2.8 billion from another round of block sale of AREIT Inc. (AREIT) shares.<\/p>\n\n\n\n

In a stock exchange filing, ALI said it sold 75 million common shares of AREIT at P37 apiece pursuant to a placement agreement with BPI Capital Corp. and UBS AG Singapore Branch.<\/p>\n\n\n\n

ALI said the transaction was multiple times oversubscribed.<\/p>\n\n\n\n

It was upsized on the back of strong participation from local long only and international investors.<\/p>\n\n\n\n

The company said proceeds from the block sale would be settled on Dec. 12, subject to the terms and conditions of the placement agreement.<\/p>\n\n\n\n

ALI said it would submit in due course the required reinvestment plan detailing the use of proceeds obtained from the block sale.<\/p>\n\n\n\n

The company in September raised P2.72 billion after selling 75 million common shares of AREIT at P36.2 apiece under a placement agreement.<\/p>\n\n\n\n

Last May, ALI announced that it has sold more shares of AREIT in line with the company\u2019s property-for-share swap transaction with the listed real estate investment trust.<\/p>\n\n\n\n

Together with its wholly owned subsidiary Westview Commercial Ventures Corp., ALI then sold a total of 98 million common shares of AREIT at P32.45 apiece, equivalent to a total of P3.18 billion.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330874","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330874"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330874\/revisions"}],"predecessor-version":[{"id":330876,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330874\/revisions\/330876"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}