Real estate developer Haus Talk Inc. is planning to debut on the small, medium and emerging board of the Philippine Stock Exchange with the offering of P750 million worth of shares in November.
Owned by the Madlambayan family, Haus Talk will sell as much as 500 million shares at a maximum price of P1.50 per share.
Investment & Capital Corporation of the Philippines is the underwriter and issue manager for Haus Talk’s initial public offering.
Net proceeds from the offering amounting to P717.31 million will be used largely for land acquisition (P462.01 million), project development (P216.58 million), and for general working capital (P38.71 million).
Haus Talk has built and sold nearly 1,900 housing units, mostly located in Rizal, Metro Manila, Laguna and Cavite. In the pipeline are 2,300 units spread out among the socialized, economic, and mid- market housing market.
It plans to to acquire three hectares of land in Bacoor, Cavite for P240 million; Dagupan (5 hectares for P100 million); Sta. Cruz, Laguna (2 hectares for P40 million) and in Antipolo (6 hectares for P260 million).
Other proceeds will be used for the development of Haus Talk’s 24-hectare property in Mariveles, Bataan into a 2,200-unit horizontal residential project.