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Stock Commentary: Citicore Energy REIT IPO still delayed with no substantive updates

Merkado Barkada

February 18, 2022 | 8: 02am

The Citicore Vitality REIT [CREIT 2.55 pre-IPO] used to be supposed to thrill in gone forward on February 17th, but used to be delayed till February 22nd (on the latest) to offer some in the merit of-the-scenes job between the receiving agent, underwriter, and the Philippine Depository & Belief Corp (PDTC), beyond regular time to entire.

It’s no longer obvious what has precipitated the lengthen, but given that this has now came about three situations, and each has been with a REIT IPO, presumably the venture has one thing to employ out with the “Name-on-Central-Depository” (NoCD) chronicle that ought to be direct-up for every REIT investor.

This NoCD chronicle requirement is presumably the most convenient technical thing that I will judge of that can per chance differentiate a REIT IPO from an on a standard basis IPO.


Without reference to the converse motive of the venture, the reality that it’s came about now three situations is form of a crimson flag that says the template timeline for a REIT IPO needs to be adjusted by the PSE to offer extra buffer between the top of the offer period and the itemizing date, to enable the entire occasions alive to to elegantly and silently kind these issues out sooner than they’re allowed to bubble up and turn out to be sources of uncertainty and doubt for retail investors.

It form of made sense when this came about with DDMP [DDMPR 1.79]; Injap Sia’s charisma as a stock market wizard, attributable to the unprecedented efficiency of MerryMart [MM 2.10 1.41%], had precipitated many investors to soar on his REIT IPO searching for identical returns, and there used to be a feeling of the IPO being “crowded” by retail investors such that the announcement of the IPO lengthen didn’t basically basically feel out of direct.

It used to be extra strange when it came about as soon as more, with Megaworld REIT [MREIT 20.30 0.74%], since the retail clamor spherical that stock used to be simply no longer at that linked level.

Whereas retail has been inquisitive about CREIT, this misfortune of getting adore an on-call IPO doesn’t basically feel adore an reasonable result.

Here’s our sixth REIT and we’ve seen this scrape multiple situations sooner than, so why does it basically feel adore the job is getting worse? I simply want to eat popcorn whereas gazing this IPO!

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Merkado Barkada’s opinions are supplied for informational purposes handiest, and ought to no longer be regarded as a recommendation to rep or sell any converse stock. These daily articles are no longer updated with fresh data, so each investor must carry out his or her hang due diligence sooner than trading, because the info and figures in each converse article might maybe maybe delight in changed.

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