The company’s board has approved pursuing the proposed initial public offering (IPO) under the real estate investment trust, or REIT, framework. The listing will involve income-generating data center assets under VITRO, according to a stock exchange filing on Tuesday.
“This is an important step in our efforts to unlock value from PLDT’s digital infrastructure portfolio, while continuing to support the country’s growing demand for enterprise-grade and AI-ready data center capacity,” said Victor S. Genuino, ePLDT president.
“VITRO has built a leading data center platform in the Philippines, and a potential REIT listing would allow us to further strengthen this platform while creating new opportunities for investors to participate in the growth of the digital infrastructure sector,” he added.
Capital for expansion
The move comes as demand for cloud computing, artificial intelligence and hyperscale capacity drives a wave of investment in digital infrastructure, turning data centers into one of the fastest-growing property segments in the region.
PLDT operates a network of 11 data centers serving enterprise, cloud and hyperscale customers while continuing to expand capacity through new facilities under development.
For PLDT, the structure offers a way to recycle capital from completed projects while funding the next phase of growth as competition intensifies to attract global technology firms and AI-related investments.
Rules change opens door
The proposal follows revised REIT rules issued by the Securities and Exchange Commission earlier this year that expanded eligible assets beyond traditional property holdings to include digital infrastructure with recurring and predictable cash flows, including data centers.
No final terms have been determined, including the valuation, offer size, timing, ownership structure or final asset portfolio. The proposed listing remains subject to regulatory approvals and market conditions.
—Edited by Miguel R. Camus
