PLDT OKs REIT listing plan for data center unit, eyes raising $300M-$400M

Telecommunications giant PLDT Inc. expects to raise between $300 million and $400 million by selling stakes in its data center business, under Vitro Inc., to the investing public through a real estate investment trust (REIT).

In a disclosure to the Philippine Stock Exchange, PLDT announced that its Board of Directors had approved the company's plan to REIT-list Vitro's income-generating data center assets.

Speaking to reporters on the sidelines of PLDT's Annual Stockholders' Meeting in Taguig City on Tuesday, PLDT chairman, president and CEO Manuel Pangilinan said proceeds from the planned REIT listing would be used to help settle some of the company's maturing debts.

The asset-monetization initiative comes as PLDT faces at least P16.6 billion in debt maturing this year and another P27.9 billion due in 2027.

Pangilinan said the telecommunications company is targeting the completion of Vitro REIT's initial public offering by the fourth quarter of 2026.

PLDT said the planned REIT listing remains subject to regulatory approvals from the PSE and the Securities and Exchange Commission, as well as market conditions and the finalization of the transaction structure.

The company added that it would make the appropriate disclosures as required under applicable regulations.

PLDT also said that UBS AG and BPI Capital are assisting ePLDT in relation to the proposed Vitro REIT listing. —VBL, GMA News