PLDT taking data center unit public, files P24 billion IPO

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

June 23, 2026 | 12:00am

MANILA, Philippines — Telco giant PLDT Inc. will be selling nearly half of its stake in its data centers, heading to the Philippine Stock Exchange (PSE) with a goal of raising as much as P24.2 billion.

PLDT yesterday submitted the application to list VITRO Inc. at the PSE, seeking to raise up to P24.2 billion from turning the unit into a real estate investment trust (REIT).

The data center provider plans to offer 1.91 billion secondary common shares, with an overallotment option of 286.96 million shares, at a price of P11 apiece.

Upon completion of the offer, VITRO will be owned 48.95 percent by the public, leaving PLDT with a near-half ownership. As a REIT, the company will be mandated to declare dividends of at least 90 percent of its distributable income.

VITRO’s initial portfolio will comprise eight data centers that combine for a capacity of about 24 megawatts. This has yet to include the company’s largest data center, VITRO Sta. Rosa, designed to scale up to 50 MW.

VITRO currently manages a data center portfolio of Tier 2 and 3 assets, meaning their uptimes are almost infallible.

VITRO serves cloud, enterprise, hyperscale and other customers, making it the country’s biggest data center operator to date, with plans to build more projects for future demand.

VITRO’s entry into the PSE also marks the first digital infrastructure REIT in the Philippines, and is expected to stir fresh interest – and demand – among investors.

VITRO president and CEO Victor Genuino said the listing was supported by amendments made to the implementing rules and regulations of the Real Estate Investment Trust Act of 2009. The law’s revised rules widened the framework of income-generating real estate.

In particular, the amendment added properties held for the purpose of generating recurring cash inflows, including digital infrastructure. In turn, this made it possible for VITRO to proceed with the listing of its data centers.

Genuino said the listing also creates opportunities for investors to buy into the country’s digital future through data centers that store applications and information of tech giants.

For PLDT, VITRO’s listing gives it the opportunity to raise fresh funds, as it works on bringing down its debts to sustain financial viability.