Cosco Capital, the conglomerate led by grocery and logistics magnate Lucio Co, is planning a follow-on equity offering worth as much as $500 million to attain a twin goal of widening its public float and boosting funds for expansion.
GT Capital Holdings has entered into a deal to buy an additional 15-percent stake in Toyota Motor Philippines from banking arm Metropolitan Bank and Trust Co. for P4.5 billion, securing majority control of the car firm.
Businessman Lucio Co has moved to cement his status as one of the country’s top tycoons with the creation of a holding firm that will take over his group’s $1.82 billion in assets in different sectors.
The sharp rise of JG Summit shares in the last two days (up 9 percent), according to some stock pundits, may be related to the unfolding Okada casino payoff story.
Holding firm Southeast Asia Cement Holdings Inc. (Seacem) is reviewing its options to transform itself into a backdoor listing vehicle after completing a share buyback that widened the public float of subsidiary Lafarge Republic Inc. (LRI) but reduced its own public ownership.
Infrastructure holding firm Metro Pacific Investments Corp. has set up an American depositary receipt (ADR) system in a bid to increase its visibility and name recognition in the investor community in the United States.
Tanduay Holdings Inc., which is being groomed as the umbrella firm of the Lucio Tan group, plans to sell up to 3 billion shares to the overseas market via a top-up placement as part of plans to widen its public float.
Infrastructure holding firm Metro Pacific Investments Corp. has upgraded its core net profit guidance for the year to P6.3 billion from P6 billion to factor in strong first-semester results.
Leading sugar producer Roxas Holdings Inc. posted a net profit of P751 million from October 2011 to June this year, the first nine months of its fiscal year, reversing the net loss incurred in the same period a year ago.
Tycoon Lucio Tan is consolidating all his major businesses—liquor, airline, cigarette manufacturing, real estate and banking—into a single publicly listed holding firm with an estimated asset pool of P200 billion and will be headed by son and heir-apparent Michael Tan.
Metro Pacific Investments Corp., an infrastructure holding firm led by businessman Manuel V. Pangilinan, has obtained authority from regulators to beef up its capital to P30.05 billion from P24.24 billion.
