initial public offerings

Manny Villar’s VistaREIT files for P9.2-billion IPO

Ralf Rivas
Manny Villar’s VistaREIT files for P9.2-billion IPO

TYCOON. Billionaire Manny Villar.

Manny Villar's Facebook page

VistaREIT aims to offer 3.3 billion secondary common shares at a maximum price of P2.50. It plans to list on the Philippine Stock Exchange on May 6.

MANILA, Philippines – Tycoon Manny Villar is jumping in on the real estate investment trust (REIT) party, aiming to raise P9.2 billion to fund ongoing and future investments of Vista Land.

The Securities and Exchange Commission said Villar’s VistaREIT applied for the initial public offering (IPO) of up to 3.3 billion secondary common shares at an offer price of up to P2.50 each, with an overallotment option of up to 333.75 million secondary common shares.

VistaREIT’s portfolio includes 10 malls and two office buildings, with an aggregate gross leasable area of 256,403 square meters and a total appraised value of P35.95 billion.

“Our community malls (Vista Malls) are located in Las Piñas City, Bacoor City, General Trias City, Imus City, Municipality of Tanza, Antipolo City, City of San Jose del Monte, San Fernando City, and Talisay City. Our office buildings are located in Taguig City and Bacoor City,” VistaREIT said in its prospectus.

Its two office properties, Vista Hub Molino and Vista Hub BGC, are registered with the Philippine Economic Zone Authority and are largely sustained by business process outsourcing tenants.

The company engaged BDO Capital, China Bank Capital, PNB Capital, RCBC Capital, and SB Capital as joint lead underwriters and bookrunners for the transaction, with Abacus Capital as participating underwriter.

VistaREIT aims to offer the shares from April 22 to 28 and list on the main board of the Philippine Stock Exchange on May 6 under the stock symbol VREIT. – Rappler.com

Ralf Rivas

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