Haus Talk Inc., the first company to be listed this year, closed its maiden trading day at P1.60, up 6.67 percent or by 10 centavos from its initial public offering (IPO) price of P1.50 apiece.
Haus Talk’s listing marks the first successful debut of a participant in the Philippine Stock Exchange’s (PSE) handholding program for micro small medium and emerging (MSME) enterprises.
This led PSE president Ramon Monzon to describe yesterday’s ceremony for Haus Talk’s listing a “graduation.”
“While this ceremony represents the end of House Talk’s IPO of its shares, and the start of it being a listed company, I also view it as the company’s graduation from the handholding program of the Philippine Stock Exchange,” Monzon said.
Monzon said the program is a free service offered by the exchange under which it conducts one-on-one sessions with potential listing applicant- companies to help them navigate their listing roadmap and connect them with IPO financial, legal, and accounting advisors who can help bring their IPO journey to fruition.
There are more than 30 companies registered under this program.
“We look forward to getting more of them listed this year and next,” Monzon added.
Manuel Ocampo, Investment and Capital Corp. of the Philippines managing director, said Haus Talk’s maiden share sale attracted “wide participation” from local stock brokers and small investors.
The company sold to investors 500 million shares, grossing P750 million it intends to use for land acquisition and project development.
The company plans to spend P462.01 million for land acquisition, and P216.58 million for project development.
Haus Talk said it is looking at properties in Bacoor, Calasiao, Sta. Cruz, and Antipolo.
The company plans to use part of the proceeds for the development of its property located in Mariveles, Bataan. The company will use around P216.58 million to develop its 240,647- square meter property, eyed to be an economic and socialized housing development.
“The project will be developed in three phases with each phase commencing within the first three years of disbursement. The P216.58 million will be split among the land development, construction, and administration expenses of the project,” Haus Talk said.
For the first year, the company will allot P76 million for land development and construction, after which it will allot the remaining P140.58 million for the construction of the units which were pre- sold during the first year.
Trade Secretary Ramon Lopez expressed hope that Haus Talk’s IPO will inspire more MSMEs “to aspire for scaling up.”
“May this also serve to amplify the signal that our capital market is healthy and ready to support the growth of our MSMEs,” he said.
Lopez cited PSE’s “big help in demystifying the participation of MSMEs in tapping the equities market and in elevating the governance of many corporations, particularly the MSMEs,” he said.
Haus Talk caters to the mid to low-income families who wish to live in affordable “gated communities.”
Among its existing properties include Eastview Homes 1 and 2 in Antipolo; Southview Homes 1 and 2, and South Hills in Laguna; and Eastview Homes Marikina, Tradition Square Maceda, Eastview Town Homes Marikina, Tradition Square, and Winn Residences in Metro Manila.
