FILREIT opened below its offer price of P7 each share and went as high as P7.14.
The stock closed two centavos higher at P7.02.
Thin trading volumes amid the rising cases of COVID-19 could have contributed to FILREIT’s uneventful first trading day.
The company raised P12.6 billion from its initial public offering which was well received by international and domestic investors drawn to the REIT’s yield and growth prospects.
In particular, strong domestic demand from qualified institutional buyers, especially among bank trust and REIT-eligible trading participants was seen.
“We are grateful for the continued trust the investing public has given Filinvest and FILREIT. It is a vote of confidence not only in our company and this new asset class,but also in our country and in what has proven to be a most resilient industry in our economy: the BPO sector. We are excited to grow this financial platform for the benefit of our REIT Holders,” said Josephine Gotianun-Yap, president of FLI.
FILREIT’s portfolio consists of 17 Grade A office buildings totaling over 300,000 square meters of gross leasable area which include sustainability features.
Of these, 16 are in Northgate Cyberzone,a PEZA-accredited Special Economic Zone and IT park in Filinvest City, the first central business district in the country to receive Gold Certification from LEED.