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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