Insider Spotlight
Market insiders said the initial public offering, the first data center listing under a real estate investment trust framework, is looking at a December 2026 window, although plans are fluid and still subject to change.
Victor Emmanuel S. Genuino II, VITRO REIT president and CEO, told InsiderPH they’re on track to launch the IPO later this year.
“Still targeting Q4 this year,” he said in a text message on Tuesday.
More time for big investors
Details on VITRO REIT’s Aug. 10 IPO prospectus were unchanged, with the offer period to run from Sept. 25 to Oct. 1 and the listing date on Oct. 12.
The market insider said the added time would give VITRO REIT more time to lock in large investors, also known as cornerstone investors.
Maynilad Water Services Inc., also backed by Pangilinan, took a similar route last year.
It delayed IPO by a few months to accommodate major cornerstone investors before completing a P34.3-billion offering, the second-largest IPO in Philippine Stock Exchange history.
Dividend outlook
VITRO REIT’s final offer price has yet to be set, with P11 per share representing the maximum price in its IPO documents.
At that price, the company projected dividend yields of 5.8 percent in 2026 and 6.15 percent in 2027, details on its prospects showed.
Eight data centers
The IPO will initially give investors exposure to eight operating data centers with nearly 24 megawatts (MW) of capacity across Metro Manila, Clark, Cebu and Davao.
PLDT’s flagship 36 MW VITRO Sta. Rosa campus remains outside the initial portfolio but could eventually be injected into the REIT, providing a potential source of future growth.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
