Wick’s Pick: GSIS scoops up P4.5 billion worth of AREIT shares

The Government Service Insurance System (GSIS) has increased its stake in real estate investment trusts (REITs) by purchasing a significant number of shares in an Ayala-owned company.

On March 29, GSIS announced that it had acquired 141 million shares of AREIT stocks worth P4.526 billion, priced at P32.10 per share.

As a result, GSIS is now the second-largest shareholder in AREIT, with a total of 165.884 million shares or 9.42 percent ownership of the company.

This is the second notable acquisition made by GSIS President and General Manager, Jose Arnulfo “Wick” Veloso, this month.

Two weeks ago, GSIS also reported the purchase of a two percent stake in Nickel Asia, owned by bilyonaryo Manny Zamora.

Veloso stated that his objective is to invest GSIS funds in businesses that support the country’s growth, such as power, water, food production, telecommunications, healthcare, education, financial services, and consumer goods.

Subscribe to

Stay in the know with Bilyonaryo’s unparalleled coverage of business news and global industries!

Elevate your understanding of the Philippine business landscape and gain insights into worldwide markets by subscribing to our dedicated channels. Receive breaking news, in-depth analyses, and exclusive interviews with industry leaders directly on Viber, WhatsApp, and Facebook. Stay informed and empowered with our Email Newsletter, delivering curated content right to your inbox.

Don’t miss out on crucial updates and trends shaping economies and businesses both locally and internationally.

Join Bilyonaryo’s community today by clicking the button below to subscribe and stay ahead in the dynamic world of business.

Share this Bilyonaryo story