Po brothers gain 100% control of Cebu office developer

Arthaland Corp., an upscale property developer led by the Po family, has acquired full ownership of Cebu Lavana Land Corp. (CLLC) with the purchase of an additional 40 percent stake.

In a regulatory filing, Arthaland said it approved the acquisition of Rock And Salt B.V.’s 333,333 shares in CLLC for P113.16 million.

Rock and Salt is a Netherlands-based foreign private limited liability company managed by Arch Capital.

Arthaland said the purchase would allow it to consolidate its ownership over CLLC, which owns the Cebu Exchange project.

The project is targeted to be operational by the end of the year.

CLLC was incorporated on 11 September 2015 to acquire 8,440 square meters of land in Cebu City.

Arthaland also purchased and acquired by way of secondary sale all of the rights, title and interest accrued on shareholder advances for P762.34 million.

Rock and Salt is managed by Arch Capital Management Company Ltd., a Hong Kong based private equity fund set up to pursue investments in Asian property markets.

SOURCE: Bilyonaryo

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Po family gets warm response for Arthaland’s preferred share offer; oversubscribed 1.5 times

The recently concluded preferred share offering of green developer Arthaland Corp. (ALCO) received a positive response from investors, reflecting confidence in the Po-led company’s sustainable and high quality projects.

ALCO raised P3 billion from the offering of Series D preferred shares which was oversubscribed by 1.5 times.

Philippine Stock Exchange president and CEO Ramon S. Monzon lauded the company for being a frontrunner in sustainability development in the country’s real estate sector, which contributed to the brisk take up of its follow-on offering.

Monzon said this comes as no surprise as more and more investors integrate sustainability into their investing criteria.

“Arthaland is recognized as the only domestic property company with developments that are 100% certified as sustainable and has been recognized here and abroad many times over, for its green building advocacy, clearly placing the company on the sweet spot of ESG investing,” Monzon said.

Proceeds from the share sale will be used to redeem the Series B preferred shares ALCO issued in 2016 as well as for the
acquisition and development of real estate projects and for general corporate purposes.

 SOURCE: Bilyonaryo

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Po family to get fresh funding: SEC OKs Arthaland’s P3B preferred share issue

The Securities and Exchange Commission has approved a plan by sustainable developer Arthaland to issue as much as P3 billion worth of preferred shares to repay debt and fund additional investments in subsidiaries.

Po family-led Arthaland will offer up to four million Series D preferred shares with an oversubscription option of up to two million preferred shares at a maximum price of P500 each.

Assuming the oversubscription option is fully exercised, the company expects to net around P2.96 billion, a portion of which will be used for the redemption of its series B preferred shares and for additional investments in Cebu Exchange and Savya Financial Center to boost recurring income.

The 38-storey Cebu Exchange is seen to be one of Cebu’s largest and tallest office developments with a net saleable area of almost 90,000 square meters.

The preferred shares are expected to be listed on the stock exchange on November 29, based on the latest timetable submitted to the SEC.

BDO Capital is the sole issue manager, lead bookrunner and lead underwriter for the offer.

SOURCE: Bilyonaryo

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Po family plans fund-raising for real estate ventures

Arthaland Corp., the property unit of the Po family, is seeking to raise fresh capital through a preferred share offering.

In a regulatory filing, Arthaland said its board approved a plan to issue up to six million Series D preferred shares.

No other details were given by Arthaland.

The company remains optimistic about the sector as it plans to roll out more projects despite the challenges posed by the pandemic.

Arthaland recently launched Lucima, a 37-storey residential development in the Cebu Business park which is intended to fortify its position in Visayas and Mindanao.

Lucima, targeted for completion in the third quarter of 2025, will offer 263 residential units.

Another project to be rolled out this year is a sustainable low-density ultra-luxury residential tower in Legazpi Village in Makati City. This will comprise 37 limited edition designer residences.

SOURCE: Bilyonaryo

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