Altus Property Ventures sets PSE listing date on June 26

MANILA, Philippines  — Altus Property Ventures, Inc. (APVI) sets its listing date on June 26, 2020. APVI’s 100,000,000 common shares will be listed by way of introduction on the SME Board of the Philippine Stock Exchange, representing 100% of the real estate company’s issued and outstanding common shares.

APVI (formerly, Altus San Nicolas Corporation) is a Philippine real estate company incorporated in 2007. It currently owns and operates the North Wing of Robinsons Place Ilocos mall located in San Nicolas, Ilocos Norte. APVI was a wholly-owned subsidiary of Robinsons Land Corporation (RLC). In 2019, APVI applied with the Philippine Stock Exchange to list its common shares by way of introduction, through a property dividend declared by RLC to its stockholders of record as of August 15, 2019.

“We are delighted to have this new avenue for growth. APVI’s listing allows us to pursue business opportunities, unlocking possibilities for future ventures,” said APVI President Frederick Go. APVI’s stable recurring cash flows provide a solid base and a steady source of funds for potential business expansion and other investments.This financial strength provides a robust platform for future business growth.

APVI will also retain its profitable position by capitalizing on environmental, economic, and social programs in the Philippines. APVI has taken the lead in renewable energy by installing solar panels on the rooftop of Robinsons Place Ilocos. Not only has the installation rationalized the company’s operating expenses, thereby contributing to a healthy bottom line, it has also significantly reduced APVI’s carbon footprint. This initiative supports a sustainable future for the business and its stakeholders.

APVI expects to benefit from synergies with its affiliates, drawing upon the expertise and experience of RLC and the JG Summit Group.