PLDT Inc. is preparing to list its data center business under a real estate investment trust (REIT), with the company aiming for a fourth-quarter debut. At PLDT’s annual stockholders’ meeting, chairman Manuel V. Pangilinan said the proposed Vitro REIT initial public offering (IPO) could raise as much as $400 million. Bloomberg reports that the fundraising target is in a range of about $300 million to $400 million, linking the effort to broader investor demand for technology and artificial intelligence-related assets.
Both outlets describe the REIT as a vehicle that will hold PLDT’s data center assets and be offered to investors through an IPO. While the reports differ slightly on the exact upper and lower bounds of expected proceeds, they are aligned on the core plan: PLDT’s data center unit will be structured into a REIT, and the offering is scheduled for the latter part of the year. The company has not provided additional deal specifics in the excerpts, but the disclosed targets frame the financing size of the listing.
