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Small firm kicks off next year’s IPO season

Haus Talk is one of the companies in Philippine Stock Exchange’s handholding program for potential IPO listing.



Residential developer Haus Talk Inc. (HTI), which is classified under the small and medium enterprises (SME) counter, will become the first initial public offering (IPO) set for next year.
HTI hopes to sell up to 500 million primary shares.

HTI’s target offer period is from 3 to 7 January 2022 while its shares will be offered at a price of up to P1.50 each.

The final offer price will be determined on 27 December 2021 after the company completes its book building process.

“Haus Talk is one of the companies in Philippine Stock Exchange’s (PSE) handholding program for potential IPO listing applicants. We are pleased to see that their IPO journey will soon come into fruition,” PSE president and CEO Ramon Monzon said.

The Exchange guides over 30 companies in their plans to go public under the handholding program, most of which are candidates for SME board listing.

“We have long wanted to grow the number of SME listed in the PSE. To achieve this, we relaxed our listing rules and beefed up the support we provide to potential listing applicants. We hope that the IPO of Haus Talk will set the tone for 2022 in encouraging other SME to consider raising capital through the stock market,” Monzon added.

Villar firm in pipeline
Medilines Distributors Inc. (Medilines), meanwhile, will be the first pure-play healthcare firm to go public. It has received an overwhelming market response from institutional and retail investors.
“It was a pleasant surprise to see overwhelming interest from a diverse set of investors — spanning from high quality, long-only domestic institutional investors and thousands of Filipino retail investors from across the world”, Medilines chairperson Virgilio Villar said over the weekend.

“We are grateful to all of our investors for supporting our mission to provide all Filipinos access to healthcare facilities with word-class medical equipment,” the brother of real estate tycoon Manny Villar Jr. added.

Demand for the IPO exceeded P4.7 billion on the back of strong demand across all tranches, resulting in an oversubscription 2.5 times the offered size of P1.9 billion.

“The brisk market uptake of MEDIC shares reflects the strong clamor from the domestic capital market for an alternative investment outlet in the most appropriate sector amid the global health crisis,” Gerry B. Valenciano, president, and CEO of PNB Capital and Investment Corporation said.