The Villar Group of Companies, said the group is prepping up three initial public offerings (IPOs) this year starting with its real estate investment trust (REIT) VistaREIT (VREIT).
Manny Villar, chairman and founder of the Group, said this will be followed by Coffee Project and Siquijor Island Power Corp. (SIPCor).
VREIT is waiting regulatory approval on its plan to raise as much as P9.15 billion comprised of 3.66 billion shares at an offer price of up to P2.50 per share.
VREIT will have an initial portfolio of 10 community malls and two PEZA-registered office buildings with an aggregate gross leasable area (GLA) of 256,404 sqm.
It is set to be the flagship office and mall REIT of Vista Land, and aims to be among the leading diversified commercial REITs in the Philippines in terms of portfolio, profitability, growth, sustainability and dividend yield, noted Villar.
SIPCor is a small power utilities group which has two small power plants in Siquijor and Camotes islands in the Visayas with an existing capacity of 15-MW.
Coffee Project plans to file the application for listing by the end of the year when it shall have expanded its store locations to 200 from the current 100. Villar said the group’s other restaurant businesses will also be folded into the coffee business in time for the IPO. One of these restaurants is Bread Basket.
Villar said the Coffee Project IPO should raise more than P1 billion.
