Niche residential developer Haus Talk Inc. is planning to raise up to P750 million from its planned initial offering to finance the expansion of its business beyond Antipolo City and the province of Laguna.
Based on the prospectus filed by the firm with the Securities and Exchange Commission, Haus Talk will offer up to P500 million new common shares at P1.50 per share.
Haus Talk has tapped Investment & Capital Corporation of the Philippines to be the underwriter and issue manager.
Net proceeds from the offering amounting to P717.31 million will be used mainly for land acquisition (P462.01 million), project development (P216.58 million), and for general working capital (P38.71 million).
It plans to acquire land in Bacoor, Cavite (3 hectares for P240 million); Dagupan (5 hectares for P100 million); Sta. Cruz, Laguna (2 hectares for P40 million), and in Antipolo (6 hectares for P260 million).
The Bacoor property will be developed into a 278-unit horizontal residential project while the Dagupan property will be developed into a 460-unit horizontal residential project.
Haus Talk plans to develop the Sta. Cruz property into a 230-unit horizontal residential while the Sumulong property in Antipolo will be developed in two phases, with each project phase having 278-unit horizontal residential projects.
The Company also plans to use some of the proceeds for the development of its 24-hectare property in Mariveles, Bataan into a 2200-unit horizontal residential project.
The project will be developed in three phases with each phase commencing within the first three years of disbursement. The P216.58 million will be split among the land development, construction, and administration expenses of the project.
Haus Talk’s projects are currently based in Antipolo City and the Laguna region. The Company was organized in 2004 and is run by the Madlambayan family.
In total Haus Talk has sold close to 1,900 housing 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 roughly P2.3 billion. The 2,300 units are spread out among the socialized, economic, and mid- market housing market.