The company, according to the latest prospectus filed with the Securities and Exchange Commission, set the book building period for the IPO from Dec. 1 to Dec. 12.
The final price will be disclosed on Dec. 15 while the offering period is set from Dec. 17 to Jan 9, 2015. The company set the listing date on Jan. 15.
Sources said the offer price range would be between P16 and P20 per share.
Several foreign and local investors have expressed interest in investing in the company as cornerstone investors.
ProFriends will offer up to 385.75 million common shares, of which 270.025 million shares will be allocated for qualified institutional buyers through joint lead underwriters.
About 20 percent or 77.15 million shares would be allocated to trading participants while the remaining 38.575 million would be allocated for local small investors.
The company said of the P7.71-billion expected proceeds, P3.1 billion would be set aside to finance real estate projects in Cavite, Iloilo and Cagayan de Oro and P2.5 billion for additional equity investments in Williamton Holdings Inc.
Williamton is a wholly- owned subsidiary of Amicus Holdings, which handles the in-house financing requirements of ProFriends homebuyers.
Another P1.24 billion will be set aside for land acquisition and the remaining P611 million will be allotted for other corporate purposes.
ProFriends will have a 10.91- percent public float after the offering.
BDO Capital and Investments Corp. and First Metro Investments Corp. are the joint issue managers, lead underwriters and bookrunners for the offering.
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