PLDT, a telco giant in the Philippines, said on June 9 that its board approved plans for an initial public offering (IPO) of income-generating data center assets under Vitro, a data center operator based in the country.

The plans are set to be made through a real estate investment trust (REIT), which could be the Philippines’ first data center REIT listing.

No final terms have been set on valuation, offer size, timing, ownership structure, or the final asset portfolio.

The transaction is subject to regulatory approvals and market conditions.

The plan follows amendments the Philippine Securities and Exchange Commission (SEC) issued earlier this year.

Vitro, a wholly owned subsidiary of ePLDT, operates 11 data centers, including a 50-megawatt campus in the country’s Laguna province.

PLDT has separately said asset monetization should help cut leverage to about 2.0x net debt-to-earnings before interest, taxes, depreciation, and amortization (EBITDA).

🔗 Source: InsiderPH