Haus Talk IPO set at maximum offer price – Manila bulletin
Haus Talk IPO set at the maximum offer price
Unperturbed by the performance of recently released quotes, sprinkler developer Haus Talk Inc. set the final offer price for its planned initial public offering of 750 million pesos at the maximum indicative price of 1.50 pesos per share.
Haus Talk has informed both the Securities and Exchange Commission and the Philippine Stock Exchange of the final offering price of P1.50 per share.
Data filed with regulators shows Haus Talk will offer up to 500 million common shares to the public. The shares will be listed and traded on the Small, Medium, and Emerging Board of the Philippine Stock Exchange (PSE).
The net proceeds of the offering amounting to P 717.31 million will be mainly used for the acquisition of land (P 462.01 million), project development (P 216.58 million) and the fund. general working capital (P38.71 million).
Haus Talk plans to acquire land in Bacoor, Cavite (3 hectares for P240 million); Dagupan (5 hectares for 100 million pesos); Sta. Cruz, Laguna (2 hectares for P40 million), and in Antipolo (6 hectares for P260 million).
The Bacoor property will be developed into a horizontal residential project of 278 units while the Dagupan property will be developed into a horizontal residential project of 460 units.
Haus Talk plans to develop the Sta. Cruz into a horizontal residential of 230 units while the Sumulong property in Antipolo will be developed in two phases, with each project phase comprising 278 horizontal residential projects.
The Company also plans to use a portion of the proceeds for the development of its 24 hectare property in Mariveles, Bataan, into a 2,200 unit horizontal residential project.
The project will be developed in three phases, each phase starting during the first three years of disbursement. The 216.58 million pesos will be distributed among the costs of development, construction and administration of the project.
Haus Talk projects are currently based in Antipolo City and the Laguna region. The company was incorporated in 2004 and is run by the Madlambayan family.
In total, Haus Talk has sold nearly 1,900 housing units, with around 2,300 units in the pipeline to enter the market between 2021 and 2023.
These units contribute an estimated revenue stream of around 2.3 billion pesos. The 2,300 units are spread over the socialized, economical and mid-range housing market.
Organized in 2004, Haus Talk is a residential real estate developer led by the Madlambayan family with projects based in Antipolo City and Laguna.
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