Philippine Builder SM Prime Revives $1 Billion REIT IPO
- SM Prime has restarted talks with advisers on the REIT listing
- A REIT IPO could happen as soon as fourth quarter this year
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SM Prime Holdings Inc. is considering reviving an initial public offering of a real estate investment trust that could raise as much as $1 billion, according to people familiar with the matter, in what would be the largest such listing in the Philippines.
The company has restarted discussions with advisers on listing its shopping mall portfolio through the REIT, the people said, asking not to be identified as the information is private. A first-time share sale in Manila could happen as soon as the fourth quarter, the people said.