Philippine Property Market: PNB Holdings Sets Listing Price Ahead of September Debut
A single corporate development anchors today's property market update
Written by PropVela Editorial TeamPublished 1 min read
Today's roundup focuses on a notable corporate move in the Philippine property space, as a major bank-linked property holding firm prepares for its stock market debut.
PNB Holdings Sets P1.20 Reference Price Ahead of September 25 Listing
PNB Holdings Corp. (PHC) has fixed a reference price of P1.20 per share as it gears up for its listing on September 25, with roughly 46.93 billion shares expected to be outstanding at that point. According to PHC's Chief Financial Officer Ponciano S. Carreon, Jr., the listing aims to give shareholders who received a property dividend back in 2021 a way to gain liquidity and allow the market to determine a fair price for their holdings. The company's asset base includes three Metro Manila properties: the PNB Financial Center in Pasay City, the PNB Makati Center on Ayala Avenue, and a property along Buendia-Paseo in Makati City. According to BusinessWorld, the upcoming listing marks a key step in monetizing these long-held Metro Manila assets for shareholders.