This after COL completed all the necessary steps required by the regulators to trade real estate investment trust securities.
Several customers of COL, MyTrade and other online stockbroker firms complained about not being able to trade AREIT shares on listing day.
AREIT, the country’s first ever REIT listing, opened at its IPO price of P27 per share but closed 7.8% lower on its debut Thursday at P24.90.
Those who were looking to take advantage of falling stock prices were disappointed while tsupiteros whined about not being able to get out and cut loss early.
COL, meanwhile, said it was working with securities regulators to prevent any similar problems from happening again.
“While this resolves the issue moving forward, we know that many of you are unhappy with the delay. We understand this, and we ensure you that we will express our apologies through the improvement of our services, especially when offering new issues or types of securities,” COL said.
The Securities and Exchange Commission, meanwhile, said it was looking into the matter with the interest of the investing public in mind.
REITs work best as long-term investments. They typically provide high dividends plus the potential for moderate, long-term capital appreciation. The dividends are substantial as REITs are required to distribute at least 90% of their taxable income to their shareholders annually.
Source: Bilyonaryo.com.ph
Source: Peso Economics
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