Background/Description of the Disclosure

PLDT Inc. has deferred the planned initial public offering (IPO) of VITRO REIT to 2027, citing prevailing market conditions and rising interest rates.

In a disclosure, the telecommunications group said it remained committed to the proposed offering as part of its asset monetization and debt-reduction plans, while supporting the expansion of its real estate investment trust’s portfolio and the continued growth of its data center business.

VITRO REIT will continue coordinating with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE) to complete the requirements for the proposed offering, with a view to launching it in 2027, PLDT said.

The announcement follows PLDT’s earlier disclosures on the proposed listing dated June 9, June 20 and June 22, 2026. These covered the board’s approval to pursue the listing, the submission of a registration statement for the proposed IPO, and an update on the listing application.

The deferral postpones the planned public offering but does not indicate that PLDT has abandoned the transaction. The company reiterated that the REIT listing remains part of its broader strategy to monetize assets and deleverage its balance sheet while supporting the expansion of its data center operations.

PLDT did not provide a specific IPO date or disclose additional details on the offering’s proposed size and valuation in its latest announcement.