en.Wedoany.com Reported - Philippine telecommunications company PLDT is applying to establish and list a data center real estate investment trust (REIT) through its IT subsidiary ePLDT, Inc.'s wholly owned unit Vitro Inc., which will become the first digital infrastructure REIT in the Philippines. Vitro Inc. has submitted a registration statement and REIT plan to the Philippine Securities and Exchange Commission (SEC) for an initial public offering (IPO).

A REIT is a company that owns and operates income-generating real estate, such as data centers, functioning as an investor fund that generates revenue by leasing space and collecting rent. A data center REIT refers to an investment trust whose entire or majority income comes from data center leasing.

To advance this IPO, Vitro Inc. is applying to change its corporate name to Vitro REIT, Inc., subject to SEC approval. The REIT's portfolio will include its Tier II and Tier III quality data centers located across the Philippines, with a total capacity of 24MW. The Vitro REIT website lists eight facilities.

PLDT plans to raise 24.2 billion Philippine pesos (approximately $396 million) through this IPO by selling about 49% of Vitro's shares. Victor S. Genuino, President and CEO of ePLDT and Vitro REIT, stated that this filing is a significant step in unlocking the value of the PLDT Group's digital infrastructure portfolio and supporting the continued expansion of the Vitro REIT data center platform. As demand for secure, resilient, and scalable digital infrastructure grows, the proposed IPO offers investors an opportunity to participate in the growth of the country's critical digital infrastructure sector.

PLDT is the largest fully integrated telecommunications company in the Philippines, listed on the Philippine Stock Exchange. Vitro was established in 2000 as the data center subsidiary of ePLDT, PLDT's ICT subsidiary. The company operates ten data centers with a total IT capacity of 63MW and has cable landing stations in Deat, Digos, La Union, and Batangas. PLDT recently launched a 50MW hyperscale facility called Santa Rosa on the outskirts of Manila and plans to build a 100MW facility in General Trias City, south of Manila.

PLDT had previously sought a minority investor for its data centers, with CVC Capital Partners and Japanese telecom company NTT among potential acquirers, but those plans were abandoned last year. Earlier this month, PLDT confirmed for the first time that it was exploring the possibility of forming a data center REIT. Many major data center companies operate as REITs or have spun off publicly listed REITs; Digital Realty, GDS, and NTT have taken similar actions previously, and Blackstone-backed AirTrunk is reportedly advancing related initiatives, while Blackstone itself is also establishing its own data center REIT.

This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com