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An IPO for an IPO in the Philippines?

Tuesday, August 1, 2017

Recently i come across an interesting pre-ipo for Philippines REIT during their roadshow at Raffles place.

This company acquires residential property from Singaporean whom has property in Philippines. In exchange for the property they would issue preference share equivalent to the property price. 

They only acquire those property which is ready and fully paid. Thereafter they will just refurbish and rent/lease out for short term and long term stay.

Short term would be those Air Bnb or tourist type. Long term would be expat or local people who is working near CBD area.

So far they had acquired some 'condotel' means condominium within hotel. And some project will be completed this year and early next year.

They plan to get listed in Philippines in 3 years time and now they are inviting investors to invest in pre-ipo preferred shares. Two type of investment is capital repayment with 6% (2 yr)+5%(3yr). The second type is capital convert to preference share 5% (3yr) and upon listing will be converted to ordinary shares.

They will be conducting a submit with media coverage in manila in sep whereby investors & public can have a feel on how the company works including showing all articles n memorandum of company.

Have you ever come across such investment? Appreciate if you could talk to yourself on this investment.

Alamak. This food sounds so exotic. I dunwan. I might get food poisoning.

Such products are unregulated and we don't even know if they are what they claim they are.

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Laurence said...

Instead of happily reaping profits from Air BnB, investors could well end up in a horror show of seeing their investment disappear into thin Air. Pun intended.

AK71 said...

Hi Laurence,

Love the pun. ;p

Maybe, I just have less foresight than some people out there.

Of course, I hope this is not another tragic story waiting to be reported in the news a few years later. -.-"

kehyi said...

their business so lucrative, yet they cannot find a bank to back them, so they have to stand on the street and beg for funds from retail investors like you and me? yup, sounds legit...

Kevin said...

Hi AK,

This company's business model do not require CAPEX at all. All it needs is to purchase the properties by issuing shares to existing owners and then issue pre-ipo preferred shares to investors. I wonder what they do with the money from the pre-ipo investors. ;)

redponza said...

I think the investment is alright if there is a reputable bank guarantee on investment return.

Other than that, stay away from any such scheme as you are better off betting in the Casino...

AK71 said...

Hi kehyi, Kevin and redponza,

I think it is safe to say that your guesses are as good as mine on this one.

So, when in doubt, I stay out. ;p

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