By Siegfrid Alegado
While the Philippines still lags the likes of S Korea and Taiwan in dollar millionaires, rapid wealth creation is prompting finance firms such as Credit Suisse to tap what was once Asia’s economic basket case.
The fund will invest in distressed assets projects in Philippines, Thailand, Indonesia and Vietnam.
El Salvador becomes the 15th international market that Revolution Precrafted is foraying into.
It will use the IPO proceeds for expansion and building of new factories in the Philippines.
D.M. Wenceslao priced the IPO, the first in 10 months in Manila, at the bottom of the indicative range.
Toyota and GT Capital are co-owners of Toyota Philippines, the country’s top automotive manufacturer and retailer.
Spain becomes the 13th international market for Revolution Precrafted, which is in the middle of a global expansion spree.
The platform, currently operational in Indonesia and the Philippines, has 30,000 job seekers and over 500 companies on board.
The green bond is the first internationally rated triple-A peso-denominated green bond to be issued by a multilateral development institution.
The SEC approval comes at a time when local stocks are under pressure from an exodus of foreign funds and concerns about the nation’s accelerating inflation and peso depreciation against the dollar.