Developer sets P750M IPO

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Haus Talk Inc. is poised raise P750 million in an initial public offering (IPO) of its shares.

The company is offering to sell 500 million shares at an offer price of P1.50 apiece in its ongoing IPO, with listing eyed on January 17 at the Philippines Stock Exchange’s Small, Medium and Emerging Board.

Investment and Capital Corp. of the Philippines serves as the underwriter and issue manager.

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Established in 2004, Haus Talk plans to use the proceeds primarily 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.

Part of the proceeds, meanwhile, will be used for the development of its property located in Mariveles, Bataan. The 240,647-square-meter property is 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 the company will allot the remaining P140.58 million for the construction of the units which were pre-sold during the first year,” it added.

Haus Talk said the 2,200-unit project is projected to bring in P2.8 billion worth of revenues.
Also in the pipeline is the development in Calasiao, Pangasinan.

Haus Talk caters to the mid- to low-income families who wish to live in affordable “gated communities.”

Among its existing properties are 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.

Ma. Rachel Madlambayan, Haus Talk president, said the decision to go public after almost three decades, and amid a pandemic, comes at a time when Haus Talk has experienced 43 percent growth over the last couple of years.

Madlambayan said there is still a housing backlog of 6.7 million, which demonstrates the need for more affordable housing solutions such as Haus Talk’s.

“The IPO will allow us to expand our coverage and establish our brand in areas where the opportunities in the mid-market segment lie,” she said.

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