PH Roundup: Max’s, Aboitiz Equity, ICTSI 


Company acquisition, treasury share sale, and bond yield recovery were some of the latest updates in the local stock market. Max’s acquires SG firm for $1m Listed Filipino restaurant Max’s Group Inc (MGI) reported on Thursday that it was acquiring a Singapore-based business management consultancy services firm Global Max Services… Read more »

Jollibee shopping for $1b US restaurant chain

After sealing the recent $300 million Dunkin’ Donuts China deal, Jollibee Foods Corp, the Philippines’ largest fast food company, is eyeing a a $1-billion US-based fast-food company, a top executive said. Local media reports quoted Jollibee Chairman Tony Tan-Caktiong as stating that the time was ripe to acquire a US… Read more »

JG Summit raises $199m via share placement

Philippine-based holding company JG Summit Holdings Inc said on Thursday that it sold shares amounting to $198.9 million (P8.8 billion). The listed firm disclosed to the stock exchange that the shares were sold via an accelerated overnight equity placement at a price of P61.00 per share through a top-up placement… Read more »

Metrobank to increase capital by $721m

Metropolitan Bank & Trust Company (Metrobank), a financial conglomerate in the Philippines, is seeking to raise its financial strength by up to $721 million (P32 billion) via stocks right offer (SRO), meant to support its company growth Metrobank informed the Philippine Stock Exchange on Thursday that it received a board… Read more »

Rocket, PLDT form internet JV firm

The Philippine Long Distance Telephone Company (PLDT) and German-based tech firm Rocket Internet AG (Rocket) have created a new joint venture company to create and develop online businesses in the Philippines. This marks the second joint venture between the two companies. Earlier this month, they had set up a JV… Read more »

First Gen raises $168m via private placement

First Gen Corp, a power generation firm in the Philippines, disclosed on Wednesday that it raised $168 million (P7.5 billion) in a private placement intended to support the company’s growth plans. First Gen informed the stock exchange of selling 297 million common and treasury shares at P25.25 apiece, a 2.9 per cent… Read more »

8990 Holdings launches $22.4m township

Philippines based real estate firm 8990 Holdings Inc has launched a 140-hectare township project, with an investment of over $22.4 million (P1-billion). Dubbed Deca Homes Pavia Resort Residences (DHPRR), the project is located in Iloilo province and island of Panay in the Western Visayas region. It is near the Iloilo… Read more »

Three foreign-owned banks to enter PH

Three new foreign banks are set to enter the Philippines, as the country opens itself 100 per cent foreign-owned banks, Reducing the entry and ownership barriers will attract more players to the country’s banking sector, benefiting both the economy and the consumer, say officials from the central bank Reports add… Read more »

PH roundup: Global Ferronickel, PSE

Global Ferronickel eyes $600 m PH IPO Philippine-based nickel producer Global Ferronickel Holdings Inc, formerly Southeast Asia Cement Holdings Inc (Seacem), introduced its new corporate name and is reportedly planning to raise $600 million (P26.8 billion) in an initial public offering (IPO) in March. The third largest nickel producer in… Read more »

Ayala Land raises $356m in private placement 

Ayala Corporation, the Philippines-based conglomerate, disclosed on Monday that a successful private placement was made by its real estate arm Ayala Land Inc (ALI), through which the realty firm raised $356 million (P16 billion). Ayala assisted its real estate unit in raising funds through a placement of 484,848,500 common shares at… Read more »