initial public offerings

Haus Talk set to be first IPO for 2022

Ralf Rivas

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Haus Talk set to be first IPO for 2022

REAL ESTATE. Eastview Residences Premiere by property developer Haus Talk.

Haus Talk

Haus Talk aims to raise as much as P750 million from its initial public offering set to start on January 3, 2022

MANILA, Philippines – Residential property developer Haus Talk will be the first company to go public in 2022, as the Philippine Stock Exchange (PSE) approved its initial public offering (IPO) worth P750 million.

Haus Talk is set to list on the small, medium, and emerging (SME) board, offering up to 500 million shares at up to P1.50 apiece.

Target offer period is from January 3 to 7, 2022.  The final offer price will be determined on December 27 after the company completes its book building process.

“Haus Talk is one of the companies in PSE’s handholding program for potential IPO listing applicants. We are pleased to see that their IPO journey will soon come into fruition,” PSE president and chief executive officer Ramon Monzon said. 

The PSE said it is guiding over 30 companies in their plans to go public under the handholding program, most of which are candidates for SME board listing. 

“We have long wanted to grow the number of SMEs listed in the PSE. To achieve this, we relaxed our listing rules and beefed up the support we provide to potential listing applicants.  We hope that the IPO of Haus Talk will set the tone for 2022 in encouraging other SMEs to consider raising capital through the stock market,” said Monzon. 

Haus Talk, formed in 2004, currently has 10 completed projects and 4 ongoing projects in various stages of development.

The company is led by the Madlambayan family and its projects are located in Manila, Quezon City, Marikina City, and Antipolo City, Rizal, as well as in San Pedro City, Laguna.

According to its prospectus, Haus Talk has sold close to 1,900 units with about 2,300 units in the pipeline to enter the market between 2021 and 2023. These units contribute to an estimated revenue stream of around P2.3 billion.

In 2020, its net income stood at P50.4 million, while revenues reached P284.7 million.

The local bourse operator amended its listing rules in early 2021, relaxing profitability and operating history requirements, as well as including a temporary relief clause in applications due to the coronavirus pandemic.

The new rules also feature a sponsor model for companies intending to list on the SME board.

Under the sponsor model, a company will be evaluated in the first instance by a listing sponsor accredited by the PSE.

If the company meets the criteria, which include financial condition, business viability, future prospects, and management track record, among others, the listing sponsor would then endorse the listing application to the PSE. –

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.