VistaREIT Inc. said it has all but disbursed the P4.8 billion proceeds of its initial public offering (IPO) last year, with just P45.41 million of the amount remaining as of the end of the third quarter.
The company told regulators in the third quarter alone, it disbursed P1.09 billion.
VistaREIT earlier said the IPO proceeds were to fund the various development project of its offering’s sponsors Masterpiece Asia Properties Inc., Manuela Corp., Vista Residences Inc., Crown Asia Properties Inc., and Communities Pampanga Inc.
Last year, the company offered to the public 2.75 billion common shares at an offer price of P1.75 apiece.
VistaREIT is the flagship mall and office real estate investment trust of the Villar-led Vista Land and Lifescape Inc.
The company has a portfolio of 10 community malls and two Philippine Economic Zone Authority-registered office buildings with an aggregate gross leasable area of 256,404 square meters.
The malls are located in the cities of Las Piñas, Bacoor, General Trias, Imus, Antipolo, San Jose Del Monte, San Fernando, and Talisay as well as the municipality of Tanza in Cavite. The office buildings are located in Taguig City and Bacoor City.
