THE board of directors of Filinvest Land, Inc. (FLI) has approved the initial public offering (IPO) of the common shares of subsidiary Cyberzone Properties, Inc., with the overallotment option increased to 163.42 million common shares from 163.08 million.
The company said a stabilizing agent or affiliate may avail of the option shares.
FLI will be offering up to 1.63 billion common shares of Cyberzone Properties through a secondary offer. Shares will be priced up to P8.30 apiece.
Same terms will apply to secondary shares and option shares.
The IPO is now going through the registration requirements of the Securities and Exchange Commission.
FLI will also need to adhere to the listing requirements of the Philippine Stock Exchange and the requirements of the revised implementing rules and regulations of the REIT (real estate investment trust) Act of 2009. — Keren Concepcion G. Valmonte