The Securities and Exchange Commission (SEC) has approved VistaREIT Inc.’s P9.15-billion initial public offering (IPO).
The company is looking to sell to the public 3.66 billion shares at an offer price of up to P2.50 per share, owned by sponsors Masterpiece Asia Properties Inc., Manuela Corp. Vista Residences Inc., Crown Asia Properties Inc. and Communities Pampanga Inc – all Villar-led companies.
The real estate investment trust (REIT) of the Villar Group will then be listed on the Main Board of the Philippine Stock Exchange.
New investors will corner 48.95 percent of VistaREIT’s issued and outstanding shares post-IPO.
VistaREIT eyes to hold its IPO May 10-16, 2022, with listing eyed on May 26, 2022.
BDO Capital & Investment Corp., China Bank Capital Corp., PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. will serve as joint lead underwriters for the offer, with Abacus Capital and Investment Corp. as participating underwriter.
