Manila's SM Prime sees 2009 net up 8-10 pct; eyes REIT IPO

MANILA, Feb 3 (Reuters) - Net income at Philippine mall operator SM Prime Holdings Corp, a unit of conglomerate SM Investments Corp, may have grown 8-10 percent last year, a senior company official said on Wednesday.

The estimate is slightly higher than the company's reported net income growth of 7 percent in 2008.

SM Prime also plans to raise $300 million this year from a public offer of its real estate investment trust in the Philippines, Jeffrey Lim, company chief finance officer, told reporters.

(Reporting by Rosemarie Francisco; Editing by Kim Coghill) (([e-mail]; [phone]; Reuters Messaging: [e-mail])) Keywords: SMPRIME/ (If you have a query or comment on this story, send an email to [e-mail]) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.