The IPO price will be finalized on Friday (May 12).
Cebu Landmasters plans to sell 505 million shares for up to P6.56 per common share, with an over-allotment option of another 75 million secondary shares to raise funds for its Visayas-Mindanao expansion. This will bring its public ownership to 33.84 percent after the IPO, with a market capitalization of up to P11.25 billion.
BDO Capital & Investment Corp. is the issue manager, and together with BPI Capital Corp., is the joint lead underwriter and joint bookrunner.
Cebu Landmasters – founded in 2003 by real estate veteran Jose Soberano III, its president and chief executive officer – is a Cebu-based developer that is aggressively expanding to the Visayas and Mindanao aiming to become the region’s most preferred developer in three years.
