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Friday, August 27, 2021

Gokongwei's RL Commercial REIT P23.5 B IPO oversubsribed

Gokongwei's RL Commercial REIT P23.5 B IPO oversubsribed

Written by James A. Loyola on August 25, 2021

Full article from Manila Bulletin

RL Commercial REIT, Inc. (RCR) has kicked off its P23.5 billion initial public offering which has generated strong institutional interest following its book-building process.
In an interview, RCR Chairman and President of sponsor Robinsons Land Corporation Frederick D. Go said in a media briefing that the offering seems to be well-received by investors.

Market sources said the IPO is oversubscribed specially since allocations of trading participants are small and more orders are still coming in.

RCR has just received a Permit to Sell from the Securities and Exchange Commission (SEC) for its initial public offering consisting of 3.34 billion common shares, with an over-allotment option of up to 305 million shares, at P6.45 per share.

The total market capitalization of RCR will be P64.2 billion at its IPO price. The offer is slated to run from Aug. 25 to Sept. 3, 2021.

RCR and RLC Residences are subsidiary companies by Robinsons Land Corporation. 

For professional services and project inquiries of RLC Residences, please contact:

+63932 8797088 (mobile, wechat, line, kakao, viber, whatsapp) (E-mail)
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