Aussie fund acquires 5% of Vista Land
February 18, 2012 § Leave a comment
An Australian investment fund manager has acquired minority interest in Vista Land & Lifescapes Inc., a company owned by the family of Senator Manuel Villar.
Vista Land said in a filing with the Philippine Stock Exchange that it had been informed that Platinum Investment Ltd. had obtained a 5.02-percent beneficial ownership in the company after accumulating 468.48 million shares as of Jan. 20.
Data showed that Platinum Investments had been buying Vista Land shares from Jan. 10 to 20 through the stock market at an average price of between P2.94 and P3.09 per share.
Vista Land said Platinum Investment bought into Vista Land in line with its business as a company engaged in investment management.
Vista Land last month said it would launch 32 subdivision projects worth P32 billion this year in a bid to cement its position as the country’s leading house and lot developer.
The property company in 2011 launched 23 projects worth P21 billion, including 16 horizontal structures.
Vista Land president and chief executive Manuel Paolo Villar said demand for the company’s house and lot packages was strong, especially for the Camella brand.
Vista Land plans to open 20 expansion projects this year and 12 new ones to keep up with strong demand. Jenniffer B. Austria
(Published in the Manila Standard Today newspaper on 2012/february/3.)