Latest Stories

Microfinance firm sets IPO this month


MANILA, Philippines—AG Finance Inc. has obtained approval from the Securities and Exchange Commission to embark on an initial public offering (IPO) worth as much as P149.76 million.

Based on a registration statement approved by the SEC,  AG Finance, which provides microfinance and consumer loans, including those targeting overseas Filipinos, plans to offer up to 68.07 million shares at a price range between P1.91 and P2.20 per share.

The offering will bring to public hands about 26 percent of the company’s post-IPO stock. Mandated as issue manager and lead underwriter is Banco de Oro Unibank’s investment banking unit BDO Capital & Investment Corp.

AG Finance’s offering is targeted to run from July 29 to August 2 this year. IPO price will be finalized by July 24. Its shares are targeted for listing on the first board of the Philippine Stock Exchange on August 9.

Proceeds will be used to finance the company’s professional and skilled overseas Filipino worker loan portfolio expansion program. About P47 million is targeted for additional disbursement for 2013 through 2014. A portion of the IPO proceeds will also be used to repay outstanding loans with China Bank amounting to P37 million that are maturing this month.

As of end-March this year, AG Finance had P280.9 million in loans and receivables out of P344 million in assets. It has an authorized capital stock of P550 million.

The microfinance firm, led by Tony King, was established in 2011 to provide short-term, unsecured credit facilities to permanent rank-and-file employees of reputable medium-sized companies in the Philippines. In 2003, AG Finance expanded its market coverage to include professionals and skilled workers in North America and the Middle East.

AG Finance has since then established operations in 20 countries targeting overseas Filipinos, with concentration in Australia, Canada and Middle East. It has 4,000 active borrowers at present.

The microfinance firm provides salary and emergency loans amounting to P10,000- P50,000 payable over 12 months via salary deductions.

Loans to overseas Filipinos amount to P50,000 and up payable over 12 to 18 months via post-dated checks.

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: AG Finance Inc. , initial public offering , IPO , microfinance

  • Bry

    Great! I have seen more details at http://www.datasite.com/

  • EZbeijing

    established in 2011, expanded market coverage in 2003??? i’m confused

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


  • Seabed search for missing Malaysian jet to widen
  • Lacson rejects calls to name ‘pork’ execs
  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • Marketplace