The Philippines’ richest man, Manny Villar, is looking at a much brighter future ahead and bared some of their financial and business plans.
Part of his optimistic plans for the next 12 months is preparing the initial public offering (IPO) of three more companies, which include their real estate investment arm, coffee chain group, Coffee Project, and a provincial power utility.
In an interview noted by Inquirer, the self-made billionaire revealed their empire plans as the country is gearing up for a new president. The Villars is poised for a new chapter this 2022, especially because Mark Villar, the former Secretary of Public Works and Highways, is seeking a senatorial seat.
Villar is looking at over P9.8 billion in the maiden share sale of the real estate investment trust, VistaREIT comprised of Vista Land & Lifescapes Inc. offices and shopping malls. The VistaREIT’s portfolio includes 10 shopping centers and two office buildings located in 10 cities and towns.
The secondary shares are expected to sell up to P3.33 billion with a max price of P2.50 pesos per piece and an over-allotment of P333.75 million secondary shares, according to Bloomberg.
Aside from VistaREIT, Villar is also eyeing a “small IPO” for Coffee Project. They are looking at least 100 branches before the listing starts.
Villar also revealed that they would start listing the provincial power utility, Siquijor Island Power Corp or Sipcor, sometime in the year’s third quarter.
Currently, Villar has listed five companies under his name: AllDay Marts Inc., AllHome Corp., Golden MV Holdings, Vista Land & Lifescapes Inc., and Vistamalls Inc. They have a combined market value of over P500 billion.
Aside from eyeing new IPOs, Villar is also optimistic about launching its media empire. Advanced Media Broadcasting System Inc. (AMBS), the Villar company was recently awarded the Channel 2 analog and Channel 16 digital TV frequencies previously owned by ABS-CBN.
With no experience in broadcasting, Villar said he’s in no rush to start his media empire. He admitted being open to the possibility of working with ABS-CBN.
Villar said they wanted to go big and go beyond TV and radio with their media empire. He described their plans close Disney with theme parks and media platforms.
He said, “You have to go beyond TV and radio. When you say Disney, they have other businesses [like] theme parks. I will go there as part of AMBS. My approach will be like Disneyland,” Villar said.
Early this year, Villar had launched the country’s first-ever grocery smart cart. You can learn a lot from the self-made billionaire’s business lessons. He shared that his keys to success are hard work and determination.