PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

3 property firms slate IPOs

By Iris Gonzales (The Philippine Star) | Updated November 13, 2015 - 12:00am

MANILA, Philippines - The Philippine Stock Exchange has approved the listing applications of D.M. Wenceslao & Associates, Inc., Datem Inc. and Italpinas.

Property builder D.M. Wenceslao plans to raise up to P21.72 billion through the sale of 493.54 million shares, including an overallotment option of 64.37 million shares, at a maximum price of P44 each.

 The offer period will run from Nov. 24 to Dec.1 while the listing is scheduled on Dec. 17.

Proceeds from the offering would be used to fund the development of the company’s pipeline projects which include the infrastructure within Aseana City as well as for land acquisitions.

Located next to Entertainment City in Paranaque, Aseana City has a size of 204 hectares and is dubbed as the next major central business district in Metro Manila.

 Joint global coordinators, bookrunners and international underwriters include BPI Capital Corp., CLSA Limited, Deutsche Bank AG, Hong Kong Branch and Maybank Kim Eng Securities Pte. Ltd. while the domestic lead underwriters are BPI Capital Corp. and Maybank ATR Kim Eng Capital Partners.

 Italpinas, meanwhile, will issue 57.6 million common shares or 26 percent of its outstanding capital stock by way of primary offering at P4.20 per share. The offering is slated on Nov. 23 and will last until Nov. 27. Listing date has been set on Dec.7.

The company expects to raise as much as P220.8 million from the offering, of which P120 million is allocated for capital expenditures for new projects, P47 million for land banking and acquisition, P33.1 million for general working capital and P20 million for retirement of existing obligations.

Datem, meanwhile, is selling up to 329.05 million at a maximum price of P14.15 per share. It is set to debut on the PSE on Dec. 8 with the offering slated from Nov. 24 to Dec. 1.

Datem’s ongoing projects include include Alphaland Makati Place, Arthaland’s two-tower Arya Residences, De La Salle University’s new Rufino Campus, Federal Land Inc.’s 47-storey Grand Hyatt tower, Megaworld’s One Uptown tower, Two Central residential building and Venive Grand Canal Mall and Global Estate Resort’s Savoy Hotel in Boracay.

Its past projects include Discovery Primea, a luxury residential tower in Makati; Discovery Shores in Boracay and the Mind Museum, the Philippines’ first world-class science museum and a LEED Gold-certified building for design and construction.          
_____________________________________________________________

real estate central philippines
Copyright ©2008-2020