The Philippine Stock Exchange (PSE) has approved the initial public offering (IPO) of residential developer Haus Talk Inc., which would be the first listing on the bourse for 2022.
“Haus Talk is one of the companies in PSE’s handholding program for potential IPO listing applicants. We are pleased to see that their IPO journey will soon come into fruition,” PSE President and CEO Ramon S. Monzon said.
Haus Talk will offer to the public up to 500 million common shares to be offered at up to P1.50 per share. Its shares will be listed and traded on the small, medium and emerging board of the PSE.
The company expects to net up to P723.69 million in proceeds, which will be used for land acquisition, project development and general corporate purposes.
The company’s target offer period is from January 3 to 7. The final offer price will be determined on December 27, after the company completes its book building process.
The PSE is guiding over 30 companies in their plans to go public under the handholding program, most of which are candidates for SME Board listing.
“We have long wanted to grow the number of SMEs [small and medium enterprises] listed in the PSE. To achieve this, we relaxed our listing rules and beefed up the support we provide to potential listing applicants. We hope that the IPO of Haus Talk will set the tone for 2022 in encouraging other SMEs to consider raising capital through the stock market,” Monzon said.
Organized in 2004, Haus Talk is a residential real estate developer led by the Madlambayan family with projects based in Antipolo and Laguna. The company has sold almost 1,900 housing units, with about 2,300 units in development until 2023.
Investment and Capital Corp. of the Philippines is the issue manager and underwriter for the offer.