Real estate Ayala Land, Inc. has monetized a small portion of its 61.71 percent stake in AREIT Inc. as part of continuing efforts to raise fresh funds while increasing the public float of its real estate investment trust.

In a disclosure to the Philippine Stock Exchange, the firm said it sold an aggregate of 12 million AREIT common shares at a transaction price of ₱40.78 per share, equivalent to ₱489.36 million (exclusive of fees and taxes) pursuant to the terms and conditions of the Terms of Sale with UBS AG Singapore Branch.

The shares were offered and sold outside the United States and within the United States to qualified institutional buyers.

The sale is exempt from the registration requirements of the Securities Regulation Code and was not registered with the Philippine Securities and Exchange Commission under the SRC.

“Any future offer or sale of the Offer Shares by the buyers thereof in the Philippines is subject to the registration requirements of the SRC unless such offer or sale qualifies as an exempt transaction in accordance with the applicable requirements of the SRC,” ALI said.

The proceeds from the block sale shall be settled on July 07, 2025, subject to the terms and conditions of the Terms of Sale.

ALI said it will submit the required Reinvestment Plan detailing the use of proceeds obtained from the block sale in due course.

Since the 12 million AREIT shares sold are equivalent to only 0.37 percent of AREIT’s 3.21 billion outstanding shares, it will still increase the firm’s public float to 38.66 percent from 38.29 percent.

However, it may not signal that a major asset infusion via a share swap by ALI is forthcoming since the resulting public float is not significantly above the minimum 33 percent that all REITs are mandated to maintain.