CLI to enter IPO by Q2 of 2017

By: Aileen Garcia-Yap January 31,2017 - 01:53 PM
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CLI chief executive officer Jose R. Soberano III announced their aggressive expansions this year. (CDN PHOTO/AILEEN GARCIA-YAP)

Cebu’s homegrown real estate developer Cebu Landmasters, Inc. (CLI) is working to get publicly-listed by second quarter of this year.

CLI chief executive officer Jose R. Soberano III made this announcement on Tuesday morning in a press conference held at their office in Park Centrale, Cebu IT Park.

According to Soberano, said they are about to file their application for the IPO listing very soon.

“We’re putting our IPO (listing) in high gear. It’s going to happen by second quarter of this year,” he said.

When that happens, Soberano said that CLI will be among just a few Cebuano companies publicly listed.

He said that the IPO is their way to pool in more funds to finance more expansions in the coming years.

Named as the number 1 local developer in Metro Cebu by CBRE Philippines, CLI has over 25 developments done in the last 12 years since they first started in 2003.

Soberano also announced their most aggressive expansion yet this year with an investment of P12 billion.

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TAGS: business, Cebu, Cebu IT Park, Cebu Landmasters, CLI, developer, developers, expansion, Inc., Metro Cebu, Park Centrale

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