By Louella D. Desiderio (The
Philippine Star) | Updated September 30, 2013 - 12:00am
MANILA, Philippines - Industrial
estate developer Science Park of the Philippines Inc. (SPPI) is planning to
list on the Philippine Stock Exchange (PSE), an official said.
SPPI president and chief officer
Rommel Leuterio said that should the firm decide to list on the local bourse,
it would raise at least P1 billion from the initial public offering (IPO).
“For an IPO to be meaningful, it has
to be at least P1 billion,” he said.
The company plans to go public in two
to three years.
The firm wants to take advantage of
the strong demand for spaces for manufacturing facilities in the industrial
estate business.
SPPI is set to start work on the
development of a new industrial park, the Light Industry and Science Park IV,
located in Malvar, Batangas.
The firm is spending P4 billion to
develop the 200-hectare industrial park.
SPPI has already received official
initial approval for registration from the Philippine Economic Zone Authority
(PEZA) for the industrial park, which will allow the firm as well as locators
to enjoy tax perks.
The industrial park will be
complemented by a 60-hectare residential and commercial area, to be developed
by SPPI’s sister company, Pueblo de Oro Development Corp.
Apart from the Light Industry and
Science Park IV, SPPI has developed five industrial parks, composed of two in
Laguna, one in Batangas, one in Bataan and one in Cebu.
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