SEC Expands REIT Coverage Amid Interest in Toll Road Listings
1 report, 1 independent
Updated Oct 21
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What happened
The SEC updated its real estate investment trust (REIT) memorandum coverage. This change comes as the Philippine Stock Exchange seeks its next major initial public offering following Mynt Inc.’s large maiden offering. The SEC noted that the expanded REIT coverage aims to encourage more listings, including toll roads.
From philstar.com
Why it matters
The expanded REIT coverage could lead to more companies seeking to list on the exchange, particularly toll operators. This is relevant as Metro Pacific Investments Corp. and San Miguel Corp. are planning a merger of their tollway units and are interested in raising capital through the market.
From philstar.com
Who's involved
- SECUpdated the REIT memorandum coverage, expanding the scope of REIT listings.