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PSE approves VistaREIT IPO

The Philippine Stock Exchange Inc. (PSE) on Monday announced the approval of Villar-led VistaREIT Inc.’s P9.2-billion initial public offering.

In a regulatory filing, the PSE said the approval of the IPO and the subsequent listing of its shares is still subject to compliance with all the post-approval conditions, and requirements of the exchange.

Under its offer term sheet, VistaREIT plans to offer up to 3.337 billion common shares to be offered at P2.50 per share, and an over-allotment option of up to 333.750 million common shares.

The latest timetable indicates that the final price will be set on May 25, before the offer period on May 30 to June 3, and the listing on June 15.

VistaREIT is sponsored by Villar-led firms Masterpiece Asia Properties Inc., Manuela Corp., Vista Residences Inc., Crown Asia Properties Inc., and Communities Pampanga Inc.

Its portfolio covers 10 community malls and two office buildings in Metro Manila, Cavite, Rizal, Bulacan, Pampanga, Cebu, and Cavite, with a gross leasable area of 256,403.95 square meters.

VistaREIT tapped BDO Capital & Investment Corp., China Bank Capital Corp., PNB Capital and Investment Corp., RCBC Capital Corp., and SB Capital Investment Corp. as joint lead underwriters. It also took in Abacus Capital and Investment Corp. as participating underwriter.

It earlier scored the approval of the Securities and Exchange Commission (SEC).—LDF, GMA News