Cebu Landmasters invites investors
CEBU Landmasters, Inc. (CLI) calls on to everyone interested to invest on the company’s shares as they are to enlist as a public company on June 2, making them one of the few homegrown companies from Visayas to actually be a public company.
Last Friday, May 19, CLI conducted their Investor Roadshow Presentation for its initial public offering (IPO) at the Jade Ballroom, Marco Polo Hotel, Davao City.
According to the company’s Chief Operating Officer (COO) Jose Franco Soberano, their offer is priced at P5 per share with a minimum share of 1,000.
“From our humble beginnings in Cebu, we started with a countryside residential subdivision around Cebu, but now we are among the most diversified developers..
Our goal is really to become one of the leading homegrown players in Visayas and Mindanao,” he said. During the presentation, the company presented to the attending potential investors how their sales hiked up around 61 percent from a P320 million in 2015 to P2.2 billion last year. Their profit had also increased from P38.45 million in 2012 to P849.70 million as of last year.
The company’s net income, from P18 million in 2012 had increased to P702 million in 2016. Deadline for the Trading Participant Investment (TPI) will be on May 24 and for Local Small Investors (LSI) will be on May 26. In Davao City, the LSI Receiving Center is at BDO, C.M. Recto St. Branch. Their roadshow for public offering had been to Cebu and Manila as well.
“We would like to share that companies from Visayas and Mindanao are actually capable of getting public,” he said.
“All the proceeds from the primary offer are going to be used for our acquisitions in Visayas and Mindanao. It’s really our commitment to our shareholders that from this IPO, we are going to invest all of it back to the company’s acquisitions because we are going to expand in Davao, in Cagayan de Oro, Iloilo, Bacolod, and Dumaguete using the proceeds of the IPO,” Soberano added.
Those who are interested to invest on the company’s shares are advised to have an existing open brokerage account and an endorsement of the brokers which will help the LSI receiving centers to process the application to purchase. Read more: http://www.sunstar.com.ph/davao/business/2017/05/22/cebu-landmasters-invites-investors-543287 Follow us: @sunstaronline on Twitter | SunStar Philippines on Facebook
