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HIGH-RISE developer Anchor Land Holdings Inc. has set an
offer price of P4.97 to P8.94 for the 65-million primary
shares in an initial public offering, or IPO, for
domestic investors this month.
At this
range, it expects to generate from P323 million to P581
million in proceeds from the shares offer.
Based on
the offering circular submitted to the stock exchange,
the final price for the IPO will be set today. The offer
period is from July 27 until August 2. Listing of the
shares is scheduled tentatively on August 8.
Anchor Land
has commissioned BDO Capital and Investment Corp. as
lead underwriter for the public offering.
The IPO
proceeds will help fund anchor Land’s capital
expenditure of P600 million to P650 million in the next
two years, covering new projects and landbanking
activities.
Anchor Land
is a multinational company with several projects in
China. It started commercial operations in the
Philippines
with the launch of its first luxury condominium project,
LEE
Tower,
under unit Anchor Properties Corp.
The LEE
Tower is a condominium building comprising of spacious
and well-designed two, three and four bedroom units. It
has been completely sold out and the units were turned
over to owners in the first quarter of 2006.
Another
project,
Mayfair Tower,
is a 33-story residential condominium on
UN Avenue,
Manila. It boasts of first class amenities with a unique oval
shaped upper deck profile and garden on the 30th floor
viewing deck. |
