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Megaworld announces P500 million block sale of MREIT shares

By: Miguel R. Camus
April 18, 2024
4:18PM PHT
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Billionaire Andrew Tan’s Megaworld Corp. announced a P500 million block sale of shares at real estate investment trust subsidiary, MREIT Inc.

Kevin TanMREIT president and CEO 
Kevin Tan
MREIT president and CEO 

Megaworld sold 40.65 million MREIT shares at P12.30 each, a 4.2 percent discount to its closing price on Thursday. 

BDO Securities facilitated the transaction as the broker. 

This strategic sale aims to reallocate resources within Megaworld's extensive portfolio.

About the author
Miguel R. Camus
Miguel R. Camus

Miguel R. Camus has been a reporter covering various domestic business topics since 2009.

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