SEC greenlights IPOs of Villar's VistaREIT, renewable energy firm Raslag

ABS-CBN News

Posted at May 05 2022 04:38 PM


MANILA - Another company from the Villar group is set to get listed after getting approval from the Securities and Exchange Commission. 

The SEC on Thursday said it has approved the initial public offering (IPO) of VistaREIT, Inc. of up to P9.178 billion. 

The IPO of Pampanga-based renewable energy firm Raslag Corp. worth up to P700 million was also approved. 

"In its meeting on May 5, the Commission En Banc resolved to render effective the registration statements of VistaREIT and Raslag covering 7.5 billion common shares and 1.5 million common shares, respectively, subject to the companies’ compliance with certain remaining requirements," the SEC said. 

The regulatory agency said VistaREIT is a real estate investment trust (REIT) sponsored by Villar-led companies, namely Masterpiece Asia Properties, Inc., Manuela Corporation, Vista Residences, Inc., Crown Asia Properties, Inc., and Communities Pampanga, Inc.

"The company will offer up to 3,337,500,000 common shares at a price of up to P2.50 per share, with an overallotment option of up to 333,750,000 common shares." 
 
VistaREIT stands to raise P8.79 billion from the offer assuming the overallotment option is fully exercised. 

VistaREIT is expected to hold the IPO from May 10 to 16 and debut on the PSE on May 26, the SEC said. 

The Villar-led REIT currently includes 10 community malls and two office buildings with a gross leasable area of 256,403.95 square meters. The company’s malls are located in Metro Manila, Cavite, Rizal, Bulacan, Pampanga, and Cebu, while its office buildings are in Taguig and Bacoor, Cavite.

Meanwhile, Raslag, which operates solar power plants, will offer up to 350 million common shares priced at up to P2 per share, with an overallotment option of up to 52.5 million common shares, the SEC said.

The company expects to net P648.08 million from the offer, which will be used to finance the company’s solar projects, namely RASLAG-4, a 35.1-megawatt (MW) solar photovoltaic plant in Magalang, Pampanga, and RASLAG-5, with an approximate capacity of 60MW.

The offer period for Raslag’s shares is set to run from May 24 to 30, in time for their listing on June 6, the SEC said.

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