PLDT has announced today that VITRO, a wholly-owned subsidiary of ePLDT, has submitted its Real Estate Investment Trust (REIT) plan and registration statement to the Securities and Exchange Commission (SEC) of the Philippines. This is in preparation for VITRO’s proposed initial public offering expected in Q4 2026.
The listing will see VITRO’s data center assets listed under the REIT and the IPO is expected to raise as much as US$ 400 million. Once listed, VITRO REIT, as it will be known, will become the Philippines’ first digital infrastructure REIT.
“Today’s filing marks an important step in our efforts to unlock value from PLDT Group’s digital infrastructure portfolio while supporting the continued expansion of VITRO REIT’s data center platform,” Victor Genuino, President and CEO of ePLDT and VITRO REIT, said in a press release.
Details in the SEC filing reveal that ePLDT will make up to 1.9 billion secondary common shares in VITRO REIT available for purchase along with an over-allotment option of up to 286 million secondary common shares pursuant to a secondary offer. The shares will be priced at up to US$ 0.18 each.
Together, these shares represent 48.95 percent of VITRO REIT’s issued and outstanding stock. The over-allotment option is an extra tranche that ePLDT can sell if demand exceeds expectations.
The IPO will include VITRO REIT’s portfolio of eight Tier 2 and Tier 3 data center assets totaling 24MW. These data centers serve enterprise, hyperscale, and cloud customers. The Philippines colocation data center market was valued at US$ 153 million in 2024 and is expected to grow at a compound annual rate of 27.68 percent to reach a value of US$ 663 million by 2030. This growth is led by a surge in demand for AI services, digitalization, and government support. VITRO REIT’s IPO aims to capitalize on that growth.
“As demand for secure, resilient, and scalable digital infrastructure continues to grow, the proposed VITRO REIT IPO creates an opportunity for investors to participate in the growth of one of the country’s most critical digital infrastructure sectors,” Genuino said.
PLDT added that it will make a disclosure regarding VITRO REIT’s listing on the Philippine Stock Exchange once the SEC acknowledges this latest submission.