Philippines: Chinabank set to raise over $300m in rights offer


China Banking Corp (Chinabank) is set to raise gross proceeds of over $300 million (P15 billion) through a stock rights offering (SRO) on the Philippine Stock Exchange (PSE) slated on April 24 to May 5, 2017. Chinabank intends to use the proceeds to fund the bank’s credit growth in the… Read more »

Philippines’ fintech startup Acudeen wins Seedstars World 2017, bags $500k

Besides Acudeen, three other startups in Asia made it to the top 14 finalists, namely Sri Lanka’s LayUp, Singapore’s uHoo, and PiQuant from South Korea.

Philippines: Ayala’s IMI acquires 80% stake in UK-based electronics firm STI

It will enable the PH-listed firm to tap aerospace and defence.

Philippines: Sierra Madre hits first close of maiden fund at $50m

Sierra Madre expects to make 8-10 SME investments over the life of the fund.

Philippines: Jollibee, Singapore’s Blackbird form JV to enter European market

Jollibee subsidiary will own controlling stake in the JV

Philippines’ San Miguel plans $34b investments, eyes Saigon Beer stake

Vietnam may provide an anchor to increase its brewery biz, said President Ang

Philippines: SM buys stake in 2Go Group, enters logistics business

Conglomerate SM Investments Corp (SM) has forayed into the logistics business with the acquisition of a 34.5 per cent stake in supply chain operator 2Go Group. SM acquired over 884.4 million shares of 2Go’s majority shareholder Negros Navigation Co Inc, priced at $0.14 per share, for a total of $124.5 million…. Read more »

Philippines: PHA’s $10m private placement; Cemex, Sinoma ink pact

Premiere Horizon Alliance Corp (PHA) is looking to raise $10 million in the private placement offer for its West Palawan Premiere Development Corp (WPP) project, while Cemex Holdings Philippines Inc and Sinoma Energy Conservation Ltd have signed a deal to build and operate a waste-heat-to-energy (WHTE) facility. Premiere Horizon okays… Read more »

Philippines: MPI, Covanta, Macquarie in waste-to-energy JV with Quezon City

The facility will be capable of processing and converting up to 3,000 metric tons per day of the city’s solid waste into 42MWe of renewable energy ― enough to power between 60,000 to 90,000 homes.

Philippines’ ICTS in race for majority stake in Greek port

Dubai-based P&O and Deutsche Invest Equity Partners have submitted offers.