The Philippine Stock Exchange buzzed with trading activity as memorial park developer Golden Haven entered the list and conducted their initial public offering (IPO) last June 29. The Villar-owned company offered 74 million shares (around 15% of its total shares) to the public and was able to raise P778 million which it plans to use for the funding of its various projects and investments. Share prices started with P10.50 as its IPO price but closed at P15.74 by the end of the day.
Fine Properties Inc. chairman Manuel Villar said that they will continue their strategic expansion nationwide. Villar’s Fine Properties is a majority shareholder in Golden Haven.
Maribeth Tolentino, chief operating officer of Golden Haven, said that they are planning to expand in Batangas, Cebu, Nueva Viscaya, and Pampanga. The company is also looking for ways to expand their death care services and has been looking into pre-need planning services, she said.
