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Business

DM Wenceslao moves offering, listing dates

Iris Gonzales - The Philippine Star

MANILA, Philippines - D.M. Wenceslao & Associates Inc. has moved its listing date to Dec. 22 instead of Dec. 17 as it continues to finalize preparations for its market debut.

In a notice posted on the website of the Philippine Stock Exchange, D.M. Wenceslao said the pricing for its initial public offering of shares will be made on Dec. 4 while the offer period has been moved to Dec. 9-15 instead of Nov. 24 to Dec. 1.

The company is seeking to raise up to P21.72 billion from the sale of 493.54 million shares, including an overallotment option of 64.37 million shares, at a maximum price of P44 each.

Proceeds would be used to fund the development of the company’s projects and acquisition of land and for general corporate purposes.

Located next to Entertainment City in Parañaque, the 204-hectare Aseana City is envisioned to be the next major central business district in Metro Manila.

To be built from 2016 to 2020, D.M. Wenceslao’s projects in Aseana City include office buildings Aseana 3, 4, 5, 6 and 7; residential buildings Pixel Residences, Greenway Residences and Parkside Place while retail spaces are the Aseana Town Center Phase 2 and Aseana Square.

 The three residential developments have total gross saleable floor area of 68,384 square meters and seven commercial and office developments with a total gross leasable floor area of 324,264 sqm.

Joint global coordinators, bookrunners and international underwriters include BPI Capital Corp., CLSA Limited, Deutsche Bank AG, Hong Kong Branch and Maybank Kim Eng Securities Pte. Ltd. while the domestic lead underwriters are BPI Capital Corp. and Maybank ATR Kim Eng Capital Partners.

To date, two companies have so far  listed on the stock exchange. These are Crown Asia and SBS Philippines while Metro Retail Stores Group of the Gaisano family is slated for listing on Nov. 24.

vuukle comment

ASEANA CITY

ASEANA SQUARE

ASEANA TOWN CENTER PHASE

ASSOCIATES INC

CAPITAL CORP

CROWN ASIA

DEUTSCHE BANK

ENTERTAINMENT CITY

GREENWAY RESIDENCES AND PARKSIDE PLACE

HONG KONG BRANCH AND MAYBANK KIM ENG SECURITIES PTE

WENCESLAO

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