PSE greenlights listing of Manny Villar’s REIT, IPO kicks off May 30

 

 

The Philippine Stock Exchange has approved the initial public offering of VistaREIT Inc. worth as much as P9.18 billion.

VistaREIT, the real estate investment trust of ultra bilyonaryo Manny Villar, will offer up to 3.67 billion common shares at a maximum price of P2.50 each, with an overallotment option of up to 333.75 million shares.

The offer price will be finalized on May 26. The IPO will run from May 30 to June 3 while the listing of the shares has been set on June 15.

Proceeds from the offer shall be reinvested in the Philippines, pursuant to the Real Estate Investment Trust Act of 2009.

As mandated by law, VistaREIT shall distribute to shareholders at least 90 percent of its annual distributable income as dividends.

BDO Capital & Investment Corp. China Bank Capital Corp., PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. are the joint lead underwriters for the offer, with Abacus Capital and Investment Corporation as participating underwriter.

VistaREIT’s portfolio comprises 10 community malls and two office buildings with a gross leasable area of 256,403.95 square meters.

The company’s malls are located in Metro Manila, Cavite, Rizal, Bulacan, Pampanga, and Cebu, while its office buildings are in Taguig and Bacoor, Cavite

SOURCE: Bilyonaryo

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Manny Villar’s REIT gets SEC OK to launch P9B IPO

 

The Securities and Exchange Commission (SEC) has approved the initial public offering of VistaREIT Inc. which is estimated to raise as much as P9.18 billion

VistaREIT, the real estate investment trust of ultra bilyonaryo Manny Villar, will offer up to 3.34 billion common shares at a maximum price of P2.50 per share, with an overallotment option of up to 333.75 million shares.

Assuming the overallotment option is fully exercised, VistaREIT will net P8.79 billion from the offer.

The sponsors will receive the entire proceeds of the offer, which shall be reinvested in the Philippines, pursuant to the Real Estate Investment Trust (REIT) Act of 2009. As mandated by law, VistaREIT shall distribute to shareholders at least 90 percent of its annual distributable income as dividends.

VistaREIT expects to conduct the IPO from May 10 to 16 and debut on the PSE on May 26, based on the latest timetable the company has submitted to the SEC.

BDO Capital & Investment Corp. China Bank Capital Corp., PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. are the joint lead underwriters for the offer, with Abacus Capital and Investment Corporation as participating underwriter.

VistaREIT’s portfolio comprises 10 community malls and two office buildings with a gross leasable area of 256,403.95 square meters.

The company’s malls are located in Metro Manila, Cavite, Rizal, Bulacan, Pampanga, and Cebu, while its office buildings are in Taguig and Bacoor, Cavite.

SOURCE: Bilyonaryo

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Who got richer? Manny Villar’s wealth swells by $1B in February thanks to thinly-traded memorial stock

The richest Filipino added a cool billion dollars to his assets in February bloated by the surge in his deathcare stock.

Former senator Manny Villar’s fortune expanded month-on-month by 14 percent to $8.3 billion in February, based on the real-time ranking of three-comma club members in Forbes’ list.

This was mainly due to a 19 percent jump month-on-month in Villar’s Golden MV Holdings Inc. to an all-time high of P645.

The thinly-traded stock, which has a market cap of P415.46 billion, accounts for 90 percent of his riches tracked by Forbes.

No.2 richest ultra bilyonaryo Ricky Razon also boosted his wealth by three percent to $6.6. billion.

Razon posted a windfall from his holdings in container handling (ICT up 7.8 percent to P215.60), casino hotel (BLOOM up 18 percent to P7.40), and mining (APX up 7.2 percent to P1.78).

Fast food king Tony Tan Caktiong jacked up his fortune by $100 million to $2.8 billion in February.

Tan Caktiongs 50 percent-owned Double Dragon surged by 48 percent to P10.36 due to an aggressive buyback of shares last month.

The six heirs of the late Henry Sy were also major movers but on the red zone.

The Sy brothers and sisters lost a combined $500 million to $15 billion in February due to a drop in their holding firm (SM down six percent to P892) and bank (BDO down 4.3 percent to P129.20).

Overall, the 16 ultra bilyonaryos combined net worth rose month-on-month by 1.1 percent to $44.3 billion in February.

This is how the Filipinos on Forbes billionaires’ list performed in February 2022:

1) Manny Villar $8.3 billion up 14%
2) Enrique K. Razon $6.6 billion up 3%
3) Henry Sy Jr. $3.4 billion down 2.8%
4) Andrew Tan $2.8 billion unchanged
5) Tony Tan Caktiong $2.8 billion up 4%
6) Hans Sy $2.5 billion down 3.8%
7) Herbert Sy $2.5 billion down 3.8%
8) Harley Sy $2.3 billion down 4.2%
9) Tessie Sy-Coson $2.3 billion unchanged
10) Ramon S. Ang $2.1 billion down 4.5%
11) Elizabeth Sy $2 $2.1 billion down 4.5%
12) Lucio Tan $2 billion unchanged
13) Chris Po and family $1.5 billion unchanged
15) Lance Gokongwei $1.1 billion unchanged
16) Roberto V. Ongpin $1.1 billion unchanged
14) Iñigo Zobel $1 billion down 17%

SOURCE: Bilyonaryo

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Vista Land hailed as Developer of the Year

 Vista Land & Lifescapes, Inc., one of the Philippines’ leading integrated property developers and the country’s largest homebuilder took home the coveted Prix D’excellence Developer of the Year Award in the recently concluded FIABCI Philippines Property and Real Estate Excellence Awards.

“Recognitions such as this is a propulsion that the Company needs to keep going and to keep growing especially during these challenging times. During the pandemic, the Company did not stop in working on more initiatives as well as developing sustainable programs all aimed at providing better and elevated service to our clients”, said Vista Land Chairman Manny B. Villar.

With its companies and brands boasting over four decades of industry leadership, Vista Land brings with it a proven track record in developing complete communities by providing Filipinos with homes surrounded by modern lifestyle features including retail complexes, leisure amenities, office centers, school campuses, and places of remembrance and worship.

The Chairman also said that he and his team are bent on providing Filipinos better experience whether it is in buying a home or in mall and retail. “We want to provide the Filipinos a better experience, at par with the world, so that you will have these experiences in the comforts of your home, without need to go abroad,” he added.

During the 2021 Property and Real Estate Excellence Awards, Vista Land also received the gold award for Luzon for Crosswinds Luxury Resort for Resort Category, while Camella Savannah was recognized as an Outstanding Developer-gold award for the Visayas for master plan category.

FIABCI is the French acronym for “Federation Internationale des Administrateurs de BienConselis Immobiliers”, which means “The International Real Estate Federation”. FIABCI represents the world’s real estate professions through its Special Consultative Status with the Economic and Social Council of the United Nations. With chapters currently operating in more than 60 countries, FIABCI represents every discipline in the industry and links thousands of real estate professionals worldwide.

SOURCE: Bilyonaryo

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Manny Villar to spend P27B for new residential projects

The property holding company of bilyonaryo Manny Villar said it would not be aggressive on its land banking activities this year given its existing land bank, which stood at 2,968 hectares as of the end of March.

As part of its liability management exercise, VLL recently completed a $170 million dollar note offering. Proceeds will be used to refinance its dollar debt maturing in June 2022.

The country’s largest homebuilder grew its first quarter profit by 14 percent to P2.1 billion. Revenues, however, were down 13 percent to P6.3 billion. Leasing income also declined by nine percent to P2 billion.

Reservation sales, on the other hand, rose by four percent to P16 billion.

“We remain optimistic with the industry especially with current growth in OF remittances for two consecutive months that is poised to hit the full year target growth of 4% according totheBSP,” said Vista Land chairman Manuel B. Villar Jr.

Villar said over 50% of Vista Land’s sales come from OFWs and the demand from the sector remains resilient amid the tough business environment.

” We are also looking forward to the vaccination roll out of the country in relation to the further opening of the economy which will benefit not just our industry but the country as a whole,” he said.

To better serve its its clients, the company implemented an online reservation system for all its product offerings, expanded its online payment options, shifted to virtual property tours and maximized the use of social media platforms.

 SOURCE: Bilyonaryo

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