Haus Talk closes up 6% in Philippines’ first stock market debut for 2022

Property developer Haus Talk Inc. (HTI) made a successful debut on the Philippine Stock Exchange on Monday, with its shares closing up by more than 6% the maiden offer price.

Shares in the company opened Monday at P1.49 apiece, slightly lower than the initial public offering (IPO) price of P1.50. They hit an intraday high of P1.73, before closing up by 10 centavos or 6.67% at P1.60.

“Despite the market closing in negative territory, appetite for the first IPO of the year was strong as indicated by closing price today,” Luis Limlingan, head of sales at Regina Capital Development Corp., said in a mobile message.

HTI was listed on the small, medium, and emerging (SME) board of the PSE, with the company primarily involved in the development of horizontal and vertical residential projects in select cities of Metro Manila, and the provinces of Rizal and Laguna.

Its existing properties include Eastview Homes in Antipolo; Southview Homes and South Hills in Laguna; and Eastview Homes Marikina, Tradition Square Maceda, Eastview Town Homes Marikina, Tradition Square, and Winn Residences in Metro Manila.

The company markets its products — ranging from P750,000 to P3.5 million — to first-time home buyers, with a significant portion of its developments being secured by overseas Filipino workers.

HTI generated P750 million from its IPO, which the firm will use to finance land acquisition, project development, and general corporate purposes for the next two years.

Among projects in the pipeline are those located in Mariveles, Bataan, and Calasiao, Pangasinan, with HTI president Maria Rachel Madlambayan bullish on takeup, given the previous one.

“All our units being constructed by our company are all sold already and there are already takers,” she told reporters in a virtual press conference on Monday.

“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 added.—AOL, GMA News