Vista Land, one of the country’s largest residential property developers, is raising up to P5 billion from the sale of shares.
The issuer has the option to redeem Series 2A on the fourth anniversary of the listing date or any dividend payment date after that, while Series 2B can be redeemed on the seventh anniversary or any subsequent dividend payment date.
The offer period is expected to run from Sept. 16 to 25, while the target listing date on the Philippine Stock Exchange is on Oct. 4, 2024.
Proceeds from the offering will be used to refinance loans from BDO Unibank, Security Bank, China Banking Corp., and corporate noteholders.
BDO Capital & Investments, China Bank Capital, and SB Capital have been appointed as joint issue managers, lead underwriters, and bookrunners for the offering.
