SM Prime delays REIT listing due to market conditions

April 23, 2024 - 4:52 PM

SM Prime Holdings Inc SMPH.PS is pushing back the timing of its plan to raise at least $1 billion through a listing of its real estate investment trust unit this year, its president said on Tuesday.

A listing this year will be unlikely given market conditions, but the company has enough capital to finance its expansion projects, SM Prime President Jeffrey Lim said in news conference.

— Reporting by Neil Jerome Morales; Editring by John Mair