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Philippines' MREIT prices up to $307 mln IPO

MANILA, Sept 10 (Reuters) - Philippine property firm MREIT Inc on Friday priced the country’s fifth real estate investment trust (REIT) offering at 16.10 pesos ($0.3226) per share, the company said in a disclosure.

MREIT will sell up to 949.84 million shares, including an overallotment option of up to 105.54 million shares, meaning the public offering could generate up to 15.3 billion pesos ($306.61 million).

MREIT is a subsidiary of Megaworld Corp, the Philippines’ biggest office landlord. ($1 = 49.90 Philippine pesos) (Reporting by Neil Jerome Morales and Enrico Dela Cruz Editing by Ed Davies)

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