{"id":329842,"date":"2024-10-10T01:04:00","date_gmt":"2024-10-09T17:04:00","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329842"},"modified":"2024-10-10T01:30:20","modified_gmt":"2024-10-09T17:30:20","slug":"trade-the-news-vll-raises-p3-billion-from-preferred-shares-offer","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-vll-raises-p3-billion-from-preferred-shares-offer\/","title":{"rendered":"Trade the News: VLL raises P3 billion from preferred shares offer"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Vista Land & Lifescapes Inc.<\/td><\/tr>
Stock Code<\/strong><\/td>VLL<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 2.04<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Vista Land & Lifescapes Inc., the listed property developer of the Villar Group, has raised P3 billion in its return to the equities market.<\/p>\n\n\n\n

The Series 2A and Series 2B preferred shares were listed on the main board of the Philippine Stock Exchange yesterday.<\/p>\n\n\n\n

\u201cToday marks another incredible milestone for the company as we return to the equity market after our initial listing in 2007,\u201d Vista Land president and CEO Manuel Paolo Villar said.<\/p>\n\n\n\n

China Bank Capital Corp. managing director Juan Paolo Colet said the take up from the offer was good, driven by retail and institutional investors looking to lock in attractive dividend yields.<\/p>\n\n\n\n

\u201cWe are pleased with healthy investor support for Vista Land\u2019s inaugural offering of preferred shares. The final offer amount was rightsized considering the company\u2019s requirements,\u201d Colet said.<\/p>\n\n\n\n

China Bank, BDO Capital & Investment Corp. and SB Capital Investment Corp. served as joint issue managers, joint lead underwriters and joint book runners for the offer.<\/p>\n\n\n\n

Vista Land\u2019s offer consisted of a base offering of 30 million Series 2 preferred shares and an oversubscription option of up to 20 million shares at P100 apiece.<\/p>\n\n\n\n

The dividend rate for the Series 2A was set at 7.9892 percent per annum, while Series 2B was at 8.4 percent.<\/p>\n\n\n\n

The proceeds of the offer will be used to refinance existing indebtedness, purchase, develop, construct or improve assets, property or equipment as well as for general corporate purposes.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329842","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329842"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329842\/revisions"}],"predecessor-version":[{"id":329844,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329842\/revisions\/329844"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}