Vista Land P5-B public offering gets SEC nod

BILLIONAIRE Manuel Villar-led Vista Land and Lifescapes Inc. (Vista Land) has received regulatory approval from the Securities and Exchange Commission (SEC) to offer to the public P5 billion worth of preferred shares.

Last week, the SEC en banc "resolved to render effective the registration statement of Vista Land covering up to 30 million Series 2 preferred shares, with an oversubscription option of up to 20 million, subject to the company's compliance with certain remaining requirements."