PLDT Inc. has filed for a real estate investment trust (REIT) offering covering its data center assets, seeking to raise up to P24.2 billion (about $397 million). The filing is seen as a step toward listing the company’s data center business on the public market. Both outlets report that the proposed fundraising size would make the deal a major offering for the Philippines and could represent the country’s first initial public offering focused on data centers this year. The REIT would be structured around PLDT’s data center subsidiary, with proceeds intended to support the listing and related activities as described in the filing and disclosures made to regulators. The reports frame the move as potentially improving market liquidity and expanding investment options in Philippine capital markets. The coverage centers on PLDT’s application and the targeted offer size; neither outlet indicates final approval, pricing, or timing beyond the fact that the company has initiated the regulatory process.