AYALA Land Inc. (ALI) sold 88 million common shares of AREIT Inc. at P42 per share via a block sale, raising a total of P3.696 billion, the company disclosed on Friday.
The sale was executed under a placement agreement with UBS AG Singapore Branch and BPI Capital Corp.
“The proceeds from the block sale shall be settled on March 3, 2026, subject to the terms and conditions of the Placement Agreement,” Ayala Land said in a disclosure.
It noted that the shares were offered and sold outside the United States in reliance on Regulation S under the US Securities Act of 1933, as amended, and within the US to qualified institutional buyers as defined in, and in reliance on, Rule 144A under the Securities Act.
It said the shares were also offered and sold in the Philippines in transactions that did not require registration under the Philippine Securities Regulation Code, making the sale exempt from registration requirements.
As the sale was not registered with the Securities and Exchange Commission (SEC) under the SRC, Ayala Land said any future offer or sale of the offer shares by buyers in the Philippines would be subject to the registration requirements of the SRC, “unless such offer or sale qualifies as an exempt transaction in accordance with the applicable requirements of the SRC.”
The company added that it would submit a reinvestment plan to the relevant authorities in due course detailing how the proceeds from the share sale would be used.
Ayala Land shares on Friday slipped P0.25, or 1.18 percent, to close at P20.90 apiece.
