Kepwealth Property Sets Share Price for IPO; Offer Period Starts Aug. 5

Breaking PSE’s IPO drought, KPPI will be the first initial public offering of 2019.
ILLUSTRATOR Roland Mae Tanglao

Kepwealth Property Phils. Inc.'s (KPPI) has announced that the share price for its maiden offering will be set at P5.74 each. The offer period will commence at 9 AM on Monday, August 5 and will last until 12 noon on Friday, August 9. This comes almost a week after the Philippine Stock Exchange and the Securities and Exchanges Commission approved the company’s P384.5 million debut on the stock market on July 25.

KPPI’s official listing date on the PSE will be on August 19, two weeks after the offer period.

The niche property developer’s 67,032,607 common shares will be made available across the small, medium, and emerging board. A total of 46,922,707 is allotted to qualified institutional buyers and the general public, 13,406,600 to PSE Trading Participants, and 6,703,300 to local small investors (LSI).

LSIs using PSE Easy Allocation System (PSE EASy), which is designed for small investors, can purchase a minimum of 1,000 shares but no more than 17,400 shares. LSIs can read KPPI's implementing guidelines for LSIs here


KPPI will also release its dividends annually at up to 25 percent of its audited net income after taxation.

BDO Capital and Investment Corporation is acting as the sole issue manager, underwriter, and sole bookrunner of KPPI’s IPO.

A former unit of Singapore-based Keppel Corp, KPPI is on track to become the first company to launch an IPO in the local stock market this year. It is primarily involved in development and management of commercial, agricultural and residential properties.

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Anri Ichimura
Section Editor, Esquire Philippines
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