FIRST PACIFIC (00142)PLDT INC. has proposed that VITRO REIT submit a registration statement for its initial public offering.

FIRST PACIFIC (00142) announced that its main operating affiliate, PLDT Inc. (PLDT), had issued a press release on June 22, 2026. The press release stated that ePLDT, Inc. (ePLDT), a wholly-owned subsidiary of PLDT, has submitted a registration statement and Real Estate Investment Trust (REIT) plan to the Philippine Securities and Exchange Commission (SEC). The plan proposes an initial public offering on the main board of the Philippine Stock Exchange and listing approval. VITRO Inc. is planning to change its company name to VITRO REIT, Inc., subject to approval by the SEC, and will be referred to as "VITRO REIT" in this announcement. ePLDT is a wholly-owned subsidiary of PLDT. Subject to regulatory approvals, market conditions, and other applicable approvals, ePLDT plans to conduct a secondary offering, offering up to approximately 1.913 billion shares of VITRO REIT common stock (base shares), with an overallotment option to offer up to approximately 287 million shares of common stock (option shares, together with base shares referred to as "offer shares") at a maximum offer price of 11.0 pesos per share (equivalent to approximately 0.18 US dollars or 1.42 Hong Kong dollars per share). Assuming full exercise of the overallotment option, the expected proceeds from the offering of offer shares could be up to an aggregate amount of 24.2 billion pesos (equivalent to approximately 399.3 million US dollars or 3.1 billion Hong Kong dollars). Assuming full exercise of the overallotment option, it is expected that the offer shares will represent approximately 48.95% of the issued and outstanding share capital of VITRO REIT after completion of the offering. The offer shares will be made by ePLDT as the offeror. As a REIT category, VITRO REIT must declare at least 90% of its distributable income as dividends. The initial portfolio of VITRO REIT is expected to consist of eight stabilized and income-generating data center assets with a total IT-ready capacity (i.e., the total capacity available at each VITRO site based on power utilized for IT workloads) of approximately 24 megawatts. Its strategically located nationwide portfolio of Tier II and Tier III data centers serves enterprises, hyperscale, cloud, and other clients, supported by secure, resilient, and scalable digital infrastructure designed for mission-critical workloads. This IPO will mark the first digital infrastructure REIT in the Philippines. Apart from permissible uses under the law, it is expected that ePLDT will use a portion of the net proceeds received from the sale of the offer shares for debt repayment purposes, in accordance with the reinvestment plan attached to the REIT plan.