MANILA, Philippines – Gokongwei-led Robinsons Land Corp. (RLC) has sold P7.75 billion worth of its shares in its real estate investment trust (REIT) arm.
This move is seen as making room for potentially more asset infusions as the REIT diversifies its portfolio.
In a regulatory filing on Tuesday, RLC disclosed that it had sold 1 billion common shares of RL Commercial REIT.
https://business.inquirer.net/548621/rlc-unlocks-p7-75b-from-reit