PLDT’s Vitro files for US$395 million IPO under REIT plan

Details: John Tanner; Category: Data Centres & Networks; 23 June 2026; 692 views

Philippine telco PLDT’s data centre arm Vitro is officially moving ahead with plans for an IPO after filing a registration statement and real estate investment trust (REIT) plan with the country’s Securities and Exchange Commission (SEC).

Vitro – which is a wholly-owned subsidiary of ePLDT – will change its name to Vitro REIT Inc, and apply for a listing on the mainboard of the Philippine Stock Exchange once the SEC has acknowledged the submission.

In a statement issued to the SEC on Saturday, ePLDT said it plans to offer close to 49% of shares in Vitro REIT at up to PHP11 per share, which would raise up to PHP24.2 billion (around US$395 million).

As a REIT, Vitro will generate revenue from the real estate that its data centres occupy by leasing the data centres. As an asset class, REITs are required to declare dividends of at least 90% of their distributable income.

Vitro REIT’s initial portfolio is expected to comprise eight Tier 2 and Tier 3 data centres, with an aggregate total IT capacity of around 24 MW.

The IPO will mark the first digital infrastructure REIT in the Philippines following the SEC’s move earlier this year to revise the Real Estate Investment Trust Act of 2009.

Under the revised rules, the framework for income-generating real estate now includes real properties held for the purpose of generating recurring and predictable cash inflows, including digital infrastructure assets such as ICT infrastructure and data centres.

“Today’s filing marks an important step in our efforts to unlock value from PLDT Group’s digital infrastructure portfolio while supporting the continued expansion of VITRO REIT’s data centre platform,” said Victor S. Genuino, president and CEO of ePLDT and Vitro REIT in a statement. “As demand for secure, resilient, and scalable digital infrastructure continues to grow, the proposed Vitro REIT IPO creates an opportunity for investors to participate in the growth of one of the country’s most critical digital infrastructure sectors.”