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
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
