The Philippine Stock Exchange approved the P750-million initial public offering of residential developer Haus Talk Inc. in January 2022.
Haus Talk will sell up to 500 million common shares at an price of up to P1.50 each based on the terms approved by the PSE, .
“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 Ramon Monzon said.
Haus Talk will use the net proceeds from the maiden share offering to fund capital expenditures, land acquisition, project development and general corporate purposes.
The offering period is set from Jan. 3 to Jan. 7, 2022. The shares will be listed on the SME board of PSE on Jan. 17, 2022. Haus Talk will have a public float of 20 percent after the IPO.
Monzon said the PSE was 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,” Monzon said.
The niche residential developer said it planned to acquire land in Bacoor, Cavite; Dagupan City; Sta. Cruz, Laguna; and Antipolo City for future development.
Formed in 2004, Haus Talk is a residential real estate developer led by the Madlambayan family with projects based in Antipolo and Laguna. The company sold almost 1,900 housing units, with about 2,300 units in the pipeline until 2023.
The 2,300 units, all horizontal projects, spread out among specialized, economic and mid-housing market.
These projects are located in Antipolo, Laguna, Bataan and Pampanga.
Net income of Haus Talk surged to P50.4 million in 2020 from P1.36 million in 2019 as revenues climbed 20.8 percent to P290.3 million from P240.3 million.
The company tapped Investment & Capital Corporation of the Philippines as issue manager and underwriter for the offering.