Resort owner to hold IPO
By Doris C. Dumlao
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.
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.
The Rebisco group’s commercial banking arm Asia United Bank has sought regulatory approvals to debut on the Philippine Stock Exchange and sell as much as P11.31 billion worth of shares.
One would think that, after all the financial malfeasance that has happened these last few years, people would have wisened up to scammers by now.
The Philippine Stock Exchange has approved an initial public offering worth about P4.25 billion by Philippine Business Bank, setting the stage for the first Philippine stock market debut this year.
Oil and gas exploration firm Frontier Oil Corp. plans to debut on the Philippine Stock Exchange this year and has mapped out a recapitalization program as a preparatory exercise to its initial public offering.
Philippine Business Bank (PBB), the thrift bank arm of businessman Alfredo Yao’s Zest-O group, has obtained approval from the Securities and Exchange Commission to conduct an initial public offering worth up to P4.25 billion.
The Securities and Exchange Commission has approved an initial public offering worth up to P7.21 billion planned by D&L Industries, one of the country’s leading manufacturers of food ingredients and specialty plastic colorants and additives.
Retail businesses that have recently achieved growth strides are exploring the possibilities of listing on the stock exchange to access capital, according to the Philippine Retailers Association.
Global Business Power Corp., the power-generation unit of taipan George Ty’s GT Capital Holdings, is planning to go public next year once its expansion plans in both Visayas and Mindanao have been firmed up.
Pilipinas Shell Petroleum Corp. is still uncertain whether it will push through with its much-delayed initial public offering, even though the oil firm is moving forward with its planned projects that will require an additional $1.15 billion in investments.
Agricultural products distributor Calata Corp. is offering shares to the public through the Philippine Stock Exchange to fund its retail and distribution expansion.
Calata Corp., being pitched to investors as an “emerging leader in Philippine agricultural industry,” is all set to become the third company to debut on the local stock exchange this year.
