by Jenniffer B. Austria
[ manilastandardtoday.com ] December 6, 2010
DMCI Holdings Inc. is considering the possibility of listing housing unit DMCI Homes next year due to the improving outlook of the property sector.
“It’s just a plan but no details yet. We will hire a financial adviser to assist us on this,” DMCI chief finance officer Herbert Consunji said in a text message.
BDO Capital and Investments Corp., a unit of Banco de Oro Unibank Inc., is reportedly interested in helping DMCI with the planned IPO.
DMCI Holdings earlier planned to list its housing unit in 2008 to raise between P3 billion and P4.5 billion in proceeds. It pushed back the offering because of the global financial meltdown.
DMCI Project Developers Inc., which operates the DMCI Homes, contributed P1 billion to DMCI Holdings’ total net income in the first nine months of the year, more than double from P483 million year-on-year.
Realized housing revenues reached P4 billion from P3.3 billion last year as sales from the newly-completed projects reached full recognition status.
Sales and reservations from January to September this year jumped 104 percent to P11.1 billion from P5.5 billion in 2009.
DMCI Homes earlier said it had lined up nine new residential projects this year.
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