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Vitarich bags SEC approval for equity restructuring

The Securities and Exchange Commission (SEC) has approved the equity restructuring of Vitarich Corp that will allow the firm to wipe out its deficit...

LANDBANK: 43% of PDS shareholders accept offer

THE LAND BANK of the Philippines (LANDBANK) said shareholders representing 43% of the fixed-income bourse have accepted its offer to buy their shares, with the share purchase agreement (SPA) expected to be signed this week.

LANDBANK says nearly half of PDS shareholders accept share purchase deal

THE LAND BANK of the Philippines (LANDBANK) said that about 43% of shareholders in the Philippine Dealing System Holdings Corp. (PDSHC) have accepted the...

MPTC eyes August to conduct tender offer for PT Nusantara shares

Metro Pacific Tollways Corp. (MPTC) targets to get the green light from Indonesian authorities for the conduct of a tender offer in favor of...

MPTC increases stake in Indonesian infra firm

An Indonesian unit of Metro Pacific Tollways Corp. (MPTC) has hiked its stake in Indonesian infrastructure firm PT Nusantara Infrastructure Tbk to more than...

Cebu Air offloads majority stake in ground-handling services firm

Cebu Air, Inc., the listed operator of Cebu Pacific, has sold majority of its shares in its ground-handling service provider. In a disclosure to the...

Ty’s GT Capital to invest up to $200 million in Japan’s...

GT Capital Holdings, Inc. is making its first offshore investment, as it buys up to ¥22.2 billion (around $200 million or P10.7 billion) worth of shares in Japanese auto giant Toyota Motor Corp.

LBC acquires remittance, cargo firms abroad

LBC Express Holdings, Inc. has acquired remittance and cargo companies based in Singapore and Australia with the goal of upping its global revenue. In a...

GT Capital to invest around $200 million in Japan’s Toyota

GT Capital Holdings, Inc. is investing 22.2 billion Japanese yen, or around $200 million, in Japanese auto manufacturer Toyota Motor Corp., noting that it...

Global Ferronickel to raise over P500 million from share sale

GLOBAL FERRONICKEL Holdings, Inc. (FNI) has priced its follow-on share sale at a discount, which will allow it to raise just over P500 million or half of its original target of P1 billion.

ISM board approves fundraising through share issuance

The board of directors of ISM Communications Corp. has authorized its executive committee to raise funds through the issuance of treasury shares as well...

PSE’s terms for PDS sale keep changing, Finance dep’t complains

THE GOVERNMENT said the Philippine Stock Exchange (PSE) is imposing constantly changing conditions for signing the agreement to sell its 20% stake in the Philippine Dealing System (PDS), a fixed-income exchange, thereby slowing the deal’s completion.

MPIC unit completes deal for Vietnam water firm

A UNIT of Metro Pacific Investments Corp. (MPIC) has completed the acquisition of a 49% stake in Vietnamese company that will allow its expansion into the Southeast Asian country’s industrial water concessions, the listed company told the stock exchange on Monday.

DMWAI’s lower IPO price may spark interest

PROPERTY DEVELOPER and construction firm D.M. Wenceslao & Associates, Inc. (DMWAI) has priced its initial public offering (IPO) at a discount, which analysts said would make the offer more attractive to investors given the persistent volatility in the stock market.

RCBC sets final terms for stock rights offer

Rizal Commercial Banking Corp. (RCBC) has set the final terms for its stock rights offer (SRO) where it is eyeing to raise P15 billion...

Del Monte Philippines defers IPO

DEL MONTE Philippines, Inc. (DMPI) has delayed what would have been the country’s first initial public offering this year, citing the current volatility in the local stock market.

Del Monte Philippines defers IPO due to market volatility

Del Monte Philippines, Inc. (DMPI) has deferred its planned P17.5-billion initial public offering of around 21% of its total outstanding shares to the public...

LANDBANK expects to sign SPA for stake in bourse this week

THE LAND BANK of the Philippines (LANDBANK) expects to ink the share purchase agreement (SPA) with the Philippine Stock Exchange (PSE) for the sale of its stake in the country’s fixed income-bourse this week.

DoubleDragon gets PSE nod for follow-on offering schedule

DOUBLEDRAGON PROPERTIES Corp. announced on Friday that the stock exchange has approved the updated timetable for its follow-on offering, which could raise up to...

H2O investors hold on to shares after Udenna offer to buy

NO SHARES were tendered after Udenna Corp. offered to buy 37.994% of Philippine H20 Ventures Corp.’s issued and outstanding common shares to complete its acquisition of the company.

JG Summit hikes 2018 capex to P80 billion

JG Summit Holdings, Inc. is hiking its capital spending for 2018 as it aims to grow its petrochemical, airline, property, food and beverage, and banking businesses.

Global Ferronickel delays planned P1-billion share sale

Global Ferronickel Holdings, Inc. is delaying its planned P1-billion follow-on share sale to give the Securities and Exchange Commission (SEC) more time to review...

AC Energy moves to buy 50% stake in UPC Renewables Australia

AC Energy Holdings, Inc. is investing $230 million to acquire a 50% stake in the Australian business of UPC Renewables and provide funding for...

Megaworld posts 11% profit growth in first quarter

Andrew L. Tan-led Megaworld Corp. posted an 11.3% increase in net income attributable to the parent to P3.2 billion during the first three months...

PLDT completes partial sale of Rocket Internet shares

PLDT Inc said it has completed its partial sale of its Rocket Internet SE shares. PLDT said in a statement that Rocket Internet AG has...

BPI lists new shares worth P53.67 billion

Bank of the Philippine Islands (BPI) has listed 599.7 million new common shares at the local bourse following the completion of a P50-billion stock...

BPI raises P50 billion from stock rights offer

Bank of the Philippine Islands (BPI) has completed its stock rights offer (SRO), raising P50 billion to fund its business operations and expansion. In a...

ISM Communications to sell treasury shares worth P560 million

ISM Communications Corp. is selling treasury shares to finance possible investments. In a disclosure to the stock exchange on Wednesday, May 2, ISM said its...

LANDBANK offers P472 million to buy PSE shares in PDS

The Philippine Stock Exchange, Inc. (PSE) said it has received an offer from the Land Bank of the Philippines (LANDBANK) to buyout its shares...

Puregold divests from Lawson brand

Puregold Price Club, Inc. has divested from the Lawson chain of convenience stores, after accepting its Japanese partner’s offer to buyout its 70% stake...

Bounty Fresh makes $309-million bid for NZ’s Tegel

MANILA/SYDNEY — Poultry company Bounty Fresh Food Inc has mounted a NZ$437.8 million ($309.4 million) cash offer for New Zealand's Tegel Group Holdings Ltd,...

Netflix selling $1.5 billion of junk bonds to finance more shows

Netflix Inc. is tapping junk-bond buyers again to help it fund its next wave of shows. The world’s largest online television network is selling $1.5...

SEC approves DoubleDragon’s P7.5-billion share offer

DoubleDragon Properties Corp. has received approval from the Securities and Exchange Commission (SEC) for its primary offer of up to 135 million common shares...

Netflix surges as users stay loyal despite higher prices

Netflix Inc. used to worry it would alienate customers by raising prices for its streaming service. Not any more. The company posted its strongest subscriber...

San Miguel formalizes consolidation of food and beverage business

San Miguel Corp has formalized its consolidation of its food businesses under San Miguel Food and Beverage Inc. The conglomerate announced the signing of the...

Megaworld to raise $200 million in perpetual notes

Megaworld Corp. will be raising $200 million through the issuance of perpetual senior notes in the offshore bond market to refinance existing debt. In a...

Spotify soars in $26 billion stock debut

New York — Spotify soared Tuesday (US time) to a value of more than $26 billion in its long-awaited stock debut as the market...

Alliance Select gets SEC green light on equity restructuring

Alliance Select Foods International, Inc. (FOOD) secured the green light from the Securities and Exchange Commission to undergo an equity restructuring that would wipe...

Prime Orion to venture into industrial parks via share swap deal

Ayala Land, Inc. will swap P3 billion worth of shares in Laguna Technopark, Inc. (LTI) with Prime Orion Philippines, Inc. (POPI), allowing the latter...

Chelsea Logistics plans to convert common shares into preferred shares to...

Chelsea Logistics Holdings Corp. (CLC) plans to convert some of its common shares into preferred shares in order to support its capital spending for...

LBC acquires two logistics firms

LBC Express Holdings, Inc. (LBC) is propping up its logistics business with the acquisition of two firms on Tuesday, March 20, valued at a...

SMC plans to lower dollar-denominated debt as peso weakens

By Krista Angela M. Montealegre, Senior Reporter San Miguel Corp. (SMC) plans to further trim down its dollar-denominated debt, as the peso weakens and interest rates...

BPI secures PSE approval to conduct stock rights offering in April

Bank of the Philippine Islands (BPI) said it obtained the approval of the Philippine Stock Exchange (PSE) to conduct a stock rights offering (SRO)...

Manila Water completes acquisition of stake in Thai water firm

Manila Water Co., Inc. has closed the acquisition of a significant stake in a publicly listed company in Thailand, adding the earnings contribution of...

Metrobank sets final terms for stock rights offer

Metropolitan Bank and Trust Co. (Metrobank) has set the final terms of its stock rights offering (SRO) seen to raise P60 billion to fund...