Gaming firm MCP raises $377M from equity placement deal
By Doris C. DumlaoGaming firm Melco Crown Philippines (MCP) has raised $377 million from an equity placement deal priced at the top end of the target range.
Gaming firm Melco Crown Philippines (MCP) has raised $377 million from an equity placement deal priced at the top end of the target range.
The peso may continue to appreciate steadily over the next 12 months as it is more stable than it seems, keeping the Philippines the “favorite destination” of investors in Asia excluding Japan, according to DBS Group.
The Philippine Stock Exchange and the Singapore Exchange Ltd. (SGX) have entered into an agreement to develop derivative products, beginning with the launch of Philippine index futures in Singapore by the fourth quarter of this year.
The Philippine Stock Exchange expects capital raising to reach P200 billion this year, replicating last year’s record-high level, as good valuations are seen to encourage more companies to raise fresh equity.
To date, seven to 10 companies are scheduled to conduct either an initial public offering or listing by introduction, PSE president Hans Sicat said during the Philippine Investment Forum on Tuesday.
Property giant Ayala Land Inc. has raised about $300 million from a fresh equity deal, taking advantage of the buoyant stock market to boost funds for expansion.
Rizal Commercial Banking Corp. is continuing its capital build-up program by selling at least $100 million worth of equity through a top-up offering.
The Philippines’ burgeoning gaming industry may surpass Singapore’s $5.6-billion gaming market by 2018 on the back of a larger local mass market and likely spillover of foreign high-rollers, foreign bank Credit Suisse said.
MANILA, Philippines—The Philippine Stock Exchange plans to build up the authorized capital base of wholly owned clearinghouse subsidiary Securities Clearing Corp. of the Philippines (SCCP) to P500 million as the latter is set to take on additional responsibility as an equities depository. The boards of both PSE and SCCP recently approved the increase in [...]
The debate on whether the Philippines will benefit from two separate depository platforms for the fixed income and equity markets has just heated up.
The long-running plan of the Philippine Stock Exchange to set up its own equities depository system has taken shape as the wholly owned clearing house Securities Clearing Corp. of the Philippines (SCCP) bagged a provisional license to operate as a securities depository.
Pangilinan-led Metro Pacific Investments Corp. (MPIC) has raised P6.2 billion through the issuance of new shares via equity placement, as it pursues government public-private partnership (PPP) projects in various industries.
Three out of every four global fund managers are bullish on equities this first quarter of 2013, with the remaining quarter keeping a neutral outlook, based on the latest fund managers’ survey by British bank HSBC.
