Vista Land & Lifescapes, Inc. Raised P3 Billion from its FOO

Vista Land & Lifescapes, Inc. (VLL) completed its initial public follow-on offering (FOO) by listing its Series 2A (VLL2A) and Series 2B (VLL2B) preferred shares on the Philippine Stock Exchange (PSE). The VLL2A and VLL2B shares have an initial dividend rate of 7.9892% and 8.4000% per year, respectively

​The property firm raised P3 billion from the FOO, which it will use to refinance existing indebtedness, purchase, develop, construct or improve assets, property or equipment, and for general corporate purposes.
 
In his welcoming remarks at the listing event, PSE COO Atty. Roel. A Refran mentioned VLL's portfolio growth throughout the years, highlighting its Vista Estates project, which debuted in 2022 and already includes 26 developments as of the first part of 2024.
 
“Armed with decades of experience as well as exposure in the sector, we are optimistic that Vista Land will continue to execute its business strategy that will make its brands not just competitive but very valuable in the property sector and deliver shareholder and stakeholder value,” Atty. Refran said.

Vista Land & Lifescapes, Inc. (VLL) was incorporated on February 28, 2007 as the holding company of the Vista Group which is engaged in the development of residential subdivisions and construction of housing and condominium units.

The VLL group is divided into horizontal, vertical and commercial and others segments. The horizontal and vertical segments cater to the development and sale of residential lots and units and residential high-rise condominium, respectively. The commercial segment caters to the development, leasing and management of shopping malls and commercial centers all over the Philippines as well as buildings catering to the business process outsourcing industry. The other segment caters to the development and management of recreational and vacation facilities such as resorts, hotels, club and spa. It also includes activities from holding companies.

VLL has six wholly-owned subsidiaries, namely: Brittany Corporation; Crown Asia Properties, Inc.; Vista Residences, Inc.; Camella Homes, Inc.; Communities Philippines, Inc.; and VLL International Inc. The Company also has an 88.34%-owned subsidiary, Vistamalls, Inc.