By Luisa Maria J.C. Jocson
THE Villar group is targeting three initial public offerings (IPOs) this year, with its real estate investment trust (REIT), coffee shop business, and power company, its top official said.
VistaREIT, Inc., the REIT company of Vista Land & Landscapes, Inc., is set to debut on the stock exchange in the second quarter.
“We still have a lot we haven’t added to VistaREIT. We already have a decent amount to place for its second phase,” Vista Land & Landscapes Chairman Manuel B. Villar said at a press conference last week.
The Securities and Exchange Commission said in March that it had received the registration statement of VistaREIT, Inc. for an initial public offering of P9.18-billion shares on the stock exchange’s main board.
The offering consists of around 3.34 billion secondary common shares priced at up to P2.50 each, with an overallotment option of up to 333.75 million secondary common shares.
“VistaREIT is envisioned to be the flagship office and mall REIT of Vista Land, one of the country’s largest integrated real estate developers, and aims to be among the leading diversified commercial REITs in the Philippines in terms of portfolio, profitability, growth, sustainability, and dividend yield,” according to the prospectus.
Mr. Villar said the group intends to list Siquijor Island Power Corp. in the third quarter of the year.
The power generation company has facilities in Siquijor and Camotes Islands with a combined capacity of 21.7 megawatts.
At the same time, the group is eyeing to launch its coffee business, the Coffee Group, in the latter part of the year or early in 2023, Mr. Villar noted.
It is expected to raise over P1 billion from its offering and will have over 200 branches by the time of its listing.
The Coffee Group is the company’s restaurant and coffee shop businesses, which will include Bread Basket, a pastry shop and cafe, and the Crossings Cafe, one of its latest launches.
“I’m building everything around coffee. It will have good profitability,” Mr. Villar said.