The Securities and Exchange Commission (SEC) sees real estate investment trusts (REITs) gaining more traction among investors and directing them away from wasting hard-earned cash in scams.
“REITs are proving to be very attractive to the local retail investors. On the average, more than half of the investments in the first three REIT IPOs, or 53 percent to be exact, were placed by individuals,” said SEC Chairperson Emilio B. Aquino.
He said “This momentum is expected to be carried onto the retail offering of RLC REIT which, we are informed, saw an oversubscription in the Trading Participants’ tranche with 116 eligible brokers participating in the transaction.”
Aquino noted that, “This wide participation of retail investors in REITs’ IPOs attains one of the aims of the REIT Act of presenting REITs as a vehicle for the democratization of wealth in the country.”
It also shows the potential of REITs as viable…