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Philippines' RL Commercial REIT open 1.55% up after $471 mln IPO

MANILA, Sept 14 (Reuters) - Shares in Philippine company RL Commercial REIT Inc opened 1.55% higher on Tuesday, debuting on the stock exchange as the country’s largest share sale of the real estate investment trust (REIT) asset class.

RL Commercial sold 3.6 billion shares, including an overallotment option, at 6.45 pesos each, with the initial public offering raising 23.5 billion pesos ($470.9 million) ($1 = 49.90 Philippine pesos) (Reporting by Neil Jerome Morales Editing by Ed Davies)

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