Shares of mass housing developer Haus Talk Inc. (HTI) climbed as much as 15.3 percent in their first trading day on the Philippine Stock Exchange, pushing its market value to P3.75 billion.
The stock, which was priced at P1.50 each, hit a high of P1.73 per share, marking a positive sign for the initial public offering market.
It closed at P1.60 apiece, up 10 centavos or 6.67 percent from its IPO price.
About 220.619 million shares valued at P354.12 million changed hands during the day’s trading.
The first IPO of 2022 raised P750 million from the sale of 500 million shares.
HTI chairman and VP for business development Terence Madlambayan said the company would continue to focus on offering high-quality and affordable house-and-lot properties.
“With our IPO, we plan on continuing this on a much larger scale to help more families achieve their dream of having their own home,” he said.
Proceeds will shore up funding for HTI’s expansion and landbanking. The company plans to acquire land in Bacoor, Dagupan, Sta. Cruz and Antipolo.
PSE chairman president Ramon S. Monzon said the local small investors who invested in Haus Talk through PSE EASy came from over 30 provinces, with some even based in countries across Asia, the Middle East and Europe.
He said the HTI IPO “clearly demonstrates that a family-owned and managed SME can tap the equities market for its fund-raising needs.”
“There are more than 30 companies registered under this program and we look forward to getting more of them listed this year and next,” Monzon said.
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