Italpinas Development Corporation
PROPERTY DEVELOPER Italpinas Development Corp. (IDC) on Friday announced the final offer price for its maiden share sale this month, pegging it 14% lower than the initial maximum price.

“In relation to the initial public offering (IPO) of 57,622,000 common shares of Italpinas Development Corp., we would like to inform you that the final offer price of the IDC IPO is P3.60, amounting to a total issue size of P207.43 million,” Unicapital, Inc. Managing Director Leonardo R. Arguelles, Jr. wrote in a Nov. 12 letter to the Philippine Stock Exchange (PSE), a copy of which was uploaded on the bourse’s Web site.

“The offer price is based on the concentration of orders of QIBs (qualified institutional buyers),” he explained in a mobile phone reply on Friday.

Unicapital was tapped as issue manager and underwriter of the transaction.

The P3.60 offer price is lower than the P4.20 maximum price the company initially announced. It will allow the property developer to raise up to P207.44 million, from up to P242 million originally.

The shares to be offered comprise 26% of the company’s outstanding capital stock.

The PSE approved the company’s first-time share sale in its board meeting on Nov. 11, along with the applications of two other IPO hopefuls: real estate and construction company D.M. Wenceslao & Associates, Inc. and diversifying construction firm Datem, Inc.

Italpinas’ offer period is scheduled to run from Nov. 23-27, and the shares will be listed on the Small, Medium and Emerging Board on Dec. 7.

Italpinas is the company behind Primavera City, a mixed-use project consisting of seven residential and commercial buildings in Cagayan de Oro City. Primavera integrates into its design eco-friendly features such as rooftop solar panels to generate part of the buildings’ electricity supply and reducing power use by maximizing natural light and wind ventilation.

The firm is acquiring a property in Sto. Tomas, Batangas where the company plans to undertake a mid- to high-rise residential project. The company also plans more projects in Lipa, Batangas; Cagayan de Oro, Misamis Occidental; Subic, Zambales, Montelago, Oriental Mindoro; Dumaguete, Negros Oriental; and Iloilo City, Iloilo.

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In 2009 a young Filipino environmental lawyer met an Italian Architect and Real Estate Developer in Manila. The two developed an immediate understanding about green architecture and sustainable development, which ultimately lead Arch. Romolo Valentino Nati to share his projects and ideas with his new Filipino friend, Atty Jose D. Leviste III. Shortly after this encounter the two established ITALIPINAS with the promising prospect of developing Eco-friendly mixed-use buildings in the Philippines.
Kelan po kya start magoffer pra sa LSIP nito? oversubscribe na s COL
(11-23-2015, 12:35 PM)StockieChan Wrote: Kelan po kya start magoffer pra sa LSIP nito? oversubscribe na s COL

today until friday
san pwde kumuha nung FORM?
(11-23-2015, 02:47 PM)OneBro Wrote: san pwde kumuha nung FORM?

sa broker mo or directly sa underwriter sa PSE
ok bro thanks cno b mga kukuha nito mukhang walang bumibili ahh ehehe
oo nga wala akong naririnig about dito.... mahaba kaya pila sa PSE? makikibalita lang po....
walang pila bro ahahaha kaya nkakataka ano mangyyari s stock n to ehehe
langaw b to mga bro? di kase ako naambunan ng konte s COL (well konte lang naman tlga niraraffle nila) so i thought it might be hit just like CROWN ans SBS.. Smile

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