8990 Holdings’ statement on P6.50/sh pricing of $204M follow-on offer

Statement: 8990 Holdings prices its PHP9 billion equity offering

MANILA, Philippines – Philippine mass housing developer 8990 Holdings, Inc. successfully prices its PHP9 billion (approximately US$204 million) follow-on equity offering at PHP6.50 per share.

The transaction saw overwhelming demand from the global investors. Only the second time ever in the Philippines, a formal cornerstone tranche was executed where 2 global long-term institutional investors, Khazanah Nasional Berhad (“Khazanah”) and TPG Capital (S) Pte. Ltd. (“TPG”), committed to subscribe and were allocated over PHP2.9 billion worth of shares each at the top end of price range prior to launch of the bookbuilding exercise. This is the first investment of both Khazanah and TPG in the Philippines. The offering was priced at the very top of the PHP5.50 to PHP6.50 price range, with participation from a large number of institutional accounts.

8990 President and CEO JJ Atencio said: “We are extremely pleased with the strong level of interest that we have received from the global investor community, and we welcome them as our shareholders.”

Tim Dattels, Managing Partner, TPG Asia, added: “We are thrilled to participate with 8990, the largest home builder in the Philippines, as they address an important need in the country with very attractive and affordable housing.”

Attencio added: “The entry of Khazanah & TPG into the company is not only a cornerstone for us, but a great milestone for the Philippine Equities as well. This is further testament of the world’s excitement in the Philippines as an investment destination. A warm welcome to the Philippine, Khazanah & TPG.”

UBS AG acted as Sole Global Coordinator, Sole International Bookrunner and Joint Domestic Lead Underwriter and SB Capital Investments Corporation acted as Joint Domestic Lead Underwiter.

8990 is the largest Mass Housing developer in the Philippines, having sold over 26,000 units since 2003, with approximately 13,000 additional units available for development and sale from ongoing projects. The Company, through its “DECA Homes” and “Urban DECA Homes” brands, have gained a strong reputation in the market of providing quality and affordable homes to consumers in the fast-growing Philippine Mass Housing market.

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