The share price of Haus Talk Inc. sizzled in its debut at the stock market, rising 6.7 percent to P1.60 from the initial public offering price of P1.50.
Haus Talk, the first company to list on the local bourse this year, raised P750 million from the sale of 500 million common shares.
Haus Talk president Maria Rachel Madlambayan said in a news briefing following the listing ceremony that the firm would use the net proceeds from the offering to launch new affordable housing projects and land acquisitions.
“The company’s developments focus on meeting the demand for mid- to low-income families who want to live in an affordable gated community,” said Madlambayan.
“When we started, there were only a handful of developers for the socialized and mid-market segment. We came in knowing that we would be able to provide something extra. We studied our market and we looked at the factors that affect their decision-making, their ‘sweet spot’ when choosing a home or community,” she said.
Haus Talk’s housing projects are located in Antipolo City, Rizal; Laguna province; and Metro Manila. More horizontal developments are ongoing in these areas.
The property firm plans to launch Eastview Condominiums in Antipolo; and 50 Jocson Residences, a high-end development in Quezon City. Also in the pipeline are developments in Mariveles, Bataan and Calasiao, Pangasinan.
The decision to go public after almost three decades amid the pandemic came at a time when HTI saw a 43-percent growth in the past two years.
“Haus Talk prides itself in building and providing quality homes for the everyday Filipino,” said Terence Madlambayan, Haus Talk chairman and vice president of business development.
“With our IPO, we plan on continuing this on a much larger scale to help more families achieve their dream of having their own home—and, hopefully, motivate more small and medium enterprises in the Philippines to aim for their own IPO, too,” he said.
Haus Talk is one of the companies under the PSE’s “hand-holding program” for potential IPO listing applicants.