Megaworld to use proceeds in MREIT block sale for expansion

MANILA, Philippines — To bankroll expansion projects in the pipeline, billionaire Andrew Tan’s Megaworld Corp. has raised P500 million from the sale of its shares in real estate investment trust unit, MREIT Inc. In a stock exchange filing on Friday, township developer Megaworld said it sold 40.65 million of its shares in MREIT for P12.30
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