SMDC Lists Additional 1.87 Billion Shares

SM Development Corporation (SMDC) listed an additional 1.83 billion of its common shares at the Philippine Stock Exchange on Nov 3, 2010 . The shares were from the highly successful P11.7 billion stock rights offering held October 18-22, 2010. Each SMDC shareholder holding at least three common shares as of October 6, 2010 was offered and entitled to subscribe to one new share at an offer price of PHP 6.38 per share. The additional listed common shares have a par value of PHP 1.0 per share and BDO Capital and Investment Corporation acted as the sole underwriter of the offer.

SMDC’s stock rights offer was fully subscribed. Initially, the company will receive 50% of the total proceeds from the offer equivalent to PHP 5.8 billion and the other 50% on or before end of May 2011. Prior to this second rights offering, SMDC has a total of 5.5 billion common shares issued and outstanding. After the completion of the offer, the company’s common outstanding shares will top 7.3 billion.

“We are highly encouraged by the strong market reception and support of the Company’s latest stock rights offering, after the first rights offering. This second stock rights offering comes on the heels of the very successful first rights offering totalling PHP 5.0 billion held early this year, and the PHP 10.0 billion note issuance in June -- a clear manifestation of trust and confidence investors and other stakeholders have on the positive prospects of the company,” said SMDC vice chairman and chief executive officer Henry Sy, Jr.

The net proceeds will be used by SMDC for land acquisition, project development, and construction activities.
 The additional resources raised through this new initiative will ensure the continuity of SMDC’s excellent product offerings in the housing and financial markets. Likewise, this capital raising activity will further strengthen the financial backbone of the Company and provide it with the needed muscle to tap bigger and promising markets in the region such as China.

For further information, please contact:

Mr. Jose T. Gabionza
Vice President
SM Development Corporation
E-mail: jose.gabionza@smdevelopment.com
Tel. No. 857-0100

Source

SMDC disclosure to PSE

Nov 3, 2010

SMDC Introduces Four New Condominium Projects

SM Development Corporation (SMDC) will launch four of its newest residential condominium projects.

The four SM Residences projects are

• the Jazz Residences near Jupiter Road in Makati City;
• the Sun Residences right beside the Mabuhay (formerly Welcome) Rotunda near the Quezon Avenue boundary of Quezon City and Manila;
• the Light Residences near Pioneer Street in Mandaluyong; and
• the Wind Residences along the Emilio Aguinaldo Highway in Tagaytay City.

Roger R. Cabuñag, SMDC president said, “Our four new offerings affirm SMDC’s vision of becoming one of the leading residential developers in the country. We will end this year with a menu of 12 different offerings for our clients who may choose their homes from the best locations in the Metropolis, plus a special offering in scenic Tagaytay. Upon completion, SM Residences will provide five-star homes to our buyers through topnotch amenities and facilities even as they are offered at affordable terms.”

Jazz Residences will occupy approximately 25,000 square meters (sqm) of land along Metropolitan Avenue, which interconnects with Jupiter Road near the central business district of Makati City. A total of four towers will rise on a five-storey podium; and will be done in four phases. Each 41-storey tower will have an estimated 1,228 one- and two bedroom units. The amenities of Jazz Residences include a lawn and garden, children’s playground, jogging path, swimming pools with shower rooms, lobby lounge, and a gym and spa, among others.

Sun Residences is located at España Boulevard in Quezon City, right beside one of Metro Manila’s famous landmarks, the Mabuhay or Welcome Rotunda. The area is highly accessible as it is along a primary transport route. Its total land area is approximately 11,832 sqm. Two 43-storey towers will rise on the property with each tower having 1,992 units for sale. As in all SMDC projects, the project will be done in phases with studios, one-bedroom, and two-bedroom units on offer. Sun’s amenities include a recreational area, garden and lawn, children’s playground, students’ lounge, swimming pools, and a jogging path, among others.

The third new project, Light Residences, is located at the corner of EDSA and Madison Street in Mandaluyong City, again making it a highly accessible location for residents who want to live close to the vibrant business districts of Makati, Mandaluyong, and Pasig. Light Residences will have three towers, with Tower 1 having 40 floors, and Towers 2 and 3 having 39 floors each. The first phase will offer a total of 1,386 studios, one-bedroom, or two-bedroom units. The whole project will occupy approximately 19,422 sqm of land and will have amenities such as swimming pools, a function room, jogging path, and a children’s playground, among others.

The only offering outside of Metro Manila is Wind Residences, which is in scenic Tagaytay City. It is located along the city’s major thoroughfare, the Emilio Aguinaldo Highway, occupying 15.45 hectares of land. Wind will have ten 20-storey towers rising in several phases over the medium term. Each tower will offer approximately 702 units for sale. Wind will have a clubhouse, badminton and basketball courts, swimming pools, children’s playground, and a jogging path, among others, as its amenities.

SMDC’s other on-going projects include Chateau Elysee in Paranaque City, Mezza Residences across SM City Sta. Mesa, the Berkeley Residences along Katipunan Avenue in Quezon City, the Grass Residences beside SM City North EDSA, the Field Residences in Parañaque City, the Sea Residences near the Mall of Asia Complex in Pasay City, and the residential subdivision Lindenwood Residences in Muntinlupa City. Last week, SMDC also unveiled Princeton Residences, located along Aurora Boulevard in Quezon City.


Source: PSE Disclosure 03 December 2009. Pasay City, Philippines.