PSE approves Haus Talk IPO

Residential developer Haus Talk Inc. is set to be the first company to go public in 2022, after securing the approval of the Philippine Stock Exchange (PSE) for its initial public offering (IPO).

Haus Talk Inc. will be listed on the Small, Medium, and Emerging (SME) Board of the PSE, with its offer of up to 500 million primary shares priced at up to P1.50 per share.

The target offer period is set from January 3 to 7, 2022, with the final offer price scheduled to be determined on December 27, 2021, after the company completes its book building process.

“Haus Talk is one of the companies in PSE’s handholding program for potential IPO listing applicants,” PSE president and CEO Ramon Monzon said in an emailed statement.

“We are pleased to see that their IPO journey will soon come into fruition,” he elaborated, noting that the listing would hopefully set the tone for the coming year in boosting market confidence among SMEs.

Some 10% of Haus Talk’s offer shares will be reserved for local small investors who may avail of the shares through the PSE EASy website or mobile application.

The initial public offering already earlier scored the go-ahead from the Securities and Exchange Commission (SEC), which estimates net proceeds from the transaction at P723.70 million.

“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,” said Monzon. — BM, GMA News