Dilution fears nag AREIT’s P30-B share-for-asset swap | Inquirer Business

MANILA -The Ayala Group’s AREIT Inc. is taking over P30 billion worth of prime offices, hotels and industrial land in its biggest asset acquisition since it made its pioneering public debut on the Philippine Stock Exchange three years ago. The series of transactions, which includes the popular Greenbelt malls in Makati City and a beach resort in El Nido, Palawan, is expected to be completed next year and will help the real estate investment trust (REIT) diversify its portfolio and achieve faster growth. But it comes amid a sharp selloff in the company’s shares in recent weeks as investors raised concerns about its plans to sell stocks to outside investors. The proposed asset injections will mainly involve share issuances to…