Latest Stories

Resort owner to hold IPO

Discovery World aims to raise P1B for expansion


Discovery World Corp., operator of upscale beach resort Discovery Shores Boracay (in photo), is planning to debut on the local stock exchange to raise as much as P1 billion for its expansion program.

MANILA, Philippines—Discovery World Corp., operator of upscale beach resort Discovery Shores Boracay, is planning to debut on the local stock exchange to raise as much as P1 billion for its expansion program.

Based on a registration statement filed at the Securities and Exchange Commission on March 13, the Aklan-based resort operator plans to offer up to 306 million primary common shares at a maximum price of P3.28 each. This will bring to public hands about 40.5 percent of the company’s outstanding stocks after the initial public offering (IPO).

The company has mandated local investment house Abacus Capital and Investments Corp. as the issue manager and underwriter for the IPO, based on the registration statement signed by Discovery World president John Tiu.

It plans to use the proceeds from the offer for investments in new businesses, expansion of current businesses, debt retirement and working capital.

The company operates Discovery Shores Boracay located at Boat Station 1 of the world-famous Boracay resort island.

The major shareholders of the company are JTKC Equities Inc., owning 66.07 percent, and The Discovery Leisure Co. Inc. (TDLCI)—the company managing the resort—owning 33.93 percent.

The company will sell the shares by citing the following competitive strengths: recognized brand name, strategic location, service track record, excellent facilities and value for money. It had a P961.17-million balance sheet as of end-2012, of which total equity was P556.56 million.

Based on a regulatory filing, Discovery World posted a net profit of P21.38 million on the back of P366-million revenue in 2012.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Discovery Shores Boracay , Discovery World Corp. , fund raising , initial public offering (IPO) , Leisure , Markets and Exchanges , Tourism

  • NoWorryBHappy

    Hmmm. Mukhang promising.
    Buy 10,000 shares, pwede na.
    But ONLY if you have money to spare.

  • Echuserang_Froglet

    wow ha ampalaya ang mga comment sa baba. bwahahahaha

  • koolkid_inthehouse

    P961Billion assets with only P21Million fiscal year profits?

  • http://pulse.yahoo.com/_3J3IHTI75VVG6EXQ5G3GEUYMLQ Tsinoy Texas Boy


    • FernandoBusi

      Hey keep that a secret one you get people going to these place incompetent local governments would ruin it.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • LPA enters PH, to bring rains and thunderstorms
  • Sing-along saint: Showbiz world gets papal inspiration
  • Two-thirds of underwater search done, no sign of MH370
  • S. Korea prosecutors turn to mobile app for ferry probe
  • 31 dead in Holy Week incidents—NDRRMC
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Unmerry mix of attention-calling moves on ‘Mini-Me’ TV tilts
  • Business

  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • OFW died of Mers-CoV in Saudi Arabia, says family
  • Marketplace