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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Not to be left behind, Manny Villar’s REIT files for P9B IPO

The commercial real estate investment trust of ultra bilyonaryo Manny Villar has joined the frenzied rush by companies to go public this year.

In a statement, VistaREIT Inc. said it filed with the Securities and Exchange Commission its registration statement covering its planned initial public offering amounting to up to P9.18 billion.

It will offer up to 3.33 billion in secondary common shares, with an option to jack up the size by another 333.75 million shares at P2.50 each.

China Bank Capital Corp. is the issue coordinator and together with BDO Capital & Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. will be the joint lead underwriters and book runners.

VistaREIT is backed by Vista Land , the country’s largest homebuilder. It will be the flagship office and mall REIT of Vista Land.

Its initial portfolio consists of 10 community malls and two office buildings with a total leasable area of 256,404 square meters.

The malls are located in Vista Land’s integrated developments, which serve as a one-stop shop for its residents in Las Piñas City, Bacoor City, General Trias City, Imus City, Tanza, Antipolo City, San Jose Del Monte City, San Fernando City and Talisay City in Cebu.

The office buildings, on the other hand, are located in Taguig City and Bacoor City.

VistaREIT said these properties enjoyed consistently high occupancy rates of 93 percent to 100 percent of their respective GLAs over the past three years.

Most of the country’s top real estate companies had already taken their respective REITs public — Ayala Land (AREIT), Robinsons Land (RCR), Megaworld (MREIT), Filinvest Land (FILREIT),

SOURCE: Bilyonaryo

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