Robinsons Land shells out P100M to stabilize REIT in first 3 days after IPO
Property

Robinsons Land shells out P100M to stabilize REIT in first 3 days after IPO

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Robinsons Land Corp. (RLC) led by bilyonaryo Frederick Go spent P100 million to stabilize trading of its real estate investment trust (REIT).

In a report by its agent UBS, RLC bought 15.554 million shares of RL Commercial Reit (RCR) at an average price of P6.44 each from September 14 to 15. RCR had an initial public offering price of P6.45.

RCR, which listed on September 14, raised P64.2 billion from its initial public offering, making it the largest publicly-listed REIT.

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