Ovialand pushes back IPO to 2024

The Olivares family-led housing developer Ovialand Inc. is postponing its P2.2-initial public offering to the first quarter of 2024 due to poor market conditions. | miguelrcamusINQ /PDI

MANILA -The Olivares family-led housing developer Ovialand Inc. is postponing its P2.2-initial public offering to the first quarter of 2024 due to poor market conditions.

The builder, a pioneer in the affordable segment of the real estate sector, said the decision was made with its sole deal underwriter, SB Capital Investment Corp.Ovialand CEO Marie Leonore Fatima “Pammy” Olivares-Vital said they will prepare to launch the IPO once market conditions stabilize. “Sales for our products are also stronger than expected for the year,” she said in a text message to the Inquirer.

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