^

Business

Haus Talk shares rally in first IPO of 2022

Ramon Royandoyan - Philstar.com
Haus Talk shares rally in first IPO of 2022
The company, which will be listed at the Small, Medium and Emerging (SME) Board of the PSE, will be offering up to 500 million primary shares.
STAR / File

MANILA, Philippines — Investor interest proved robust in Haus Talk Inc.'s stock market debut on Monday, shedding some rust left behind by maiden share sales last year.

Shares in the low-income housing developer jumped 6.67% from its offer price to finish trading at P1.6 apiece. This IPO was a landmark of sorts—the first company to go public this year that would be listed under the Small, Medium, and Emerging board of the PSE.

For Luis Limlingan, head of sales at local brokerage Regina Capital, investor appetite for HTI shares came through despite the local bourse closing in the red today. The Philippine Stock Exchange index shed 0.52% at the start of weekly trading.

"Despite the market closing in negative territory, appetite for the first IPO of the year was strong as indicated by closing price today," Limlingan said in a Viber exchange.

"Perhaps the effect of the Omicron variant is more short term than previously thought, so it will not affect HTI's growth prospects, along with other companies. Overall market has also recovered since the sell-off a couple of weeks ago," he added.

The IPO of HTI, owned by the Madlambayans of Pampanga, came at the heels of Medilines Distributor Inc.'s maiden share sale, which skidded at its market debut last year. The latter's IPO compelled many companies by yearend to shelve their debut plans for the meantime.

Sought for comment, Rastine Mercado, research head of Chinabank Securities said he was curious on whether HTI would be able to maintain its strong performance.

"Strong volumes and price action in HTI point to strong investor sentiment amid prevailing risks. Would be keen to know if this is sustained in the next trading days," Mercado said in a text message.

HTI's maiden offer consisted of 500 million primary common shares sold at P1.50 apiece. The company said it will use proceeds from the IPO for land acquisition, project development, and general corporate purposes.

HAUS TALK INC.

IPO

PHILIPPINE STOCK EXCHANGE

Philstar
  • Latest
  • Trending
Latest
Recommended
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with