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Manila Bulletin devider Business devider Haus Talk IPO set at maximum offer price

Haus Talk IPO set at maximum offer price

Published Dec 26, 2021 07:00 pm

Haus Talk IPO set at maximum offer price

Unfazed by the performance of recently public listings, dousing developer Haus Talk Inc. has set the final offering price for its planned P750 million initial public offering at the maximum indicative price of P1.50 per share.

Haus Talk informed both the Securities and Exchange Commission and the Philippine Stock Exchange of the final offer price of P1.50 a share.

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Data filed with the regulators show that Haus Talk will offer to the public up to 500 million common shares. The shares will be listed and traded on the Small, Medium, and Emerging Board of the Philippine Stock Exchange (PSE).

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).

Haus Talk 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.

Organized in 2004, Haus Talk is a residential real estate developer led by the Madlambayan family with projects based in Antipolo City and Laguna.

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