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JG Summit to issue P30B in retail bonds

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The Securities and Exchange Commission has approved the plan of Gokongwei-led conglomerate JG Summit Holdings Inc. to sell as much P30 billion in bonds to retail investors to partly fund its investment in Manila Electric Co.

Posted: February 7th, 2014 in Headlines | Read More »

SEC okays JG Summit’s P30B bond offering

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jg_summit

The Securities and Exchange Commission has approved a plan by JG Summit Holdings Inc. to issue as much as P30 billion in bonds to retail investors to partly fund its investment in Manila Electric Co.

Posted: February 7th, 2014 in Uncategorized | Read More »

JG Summit raises P8.8B to fund Meralco acquisition

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The Gokongwei group raised P8.8 billion from the sale of shares in flagship conglomerate JG Summit Holdings Inc., partly to fund its acquisition of a 27-percent stake in Manila Electric Co.

Posted: November 26th, 2013 in Headlines | Read More »

Local stock market perks up in heavy trading

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As of November 26, 2013 03:46:00 PM

The local stock index firmed up for the first time in six days on Tuesday, staying above the 6,000-mark.

Posted: November 26th, 2013 in Latest Business Stories | Read More »

MVP says Meralco may tie up with JG Summit

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The Manila Electric Co. (Meralco) may explore synergies with JG Summit Holdings Inc., which is acquiring the stake of San Miguel Corp. in the country’s top distribution utility, Meralco chair Manuel V. Pangilinan told reporters.

Posted: October 27th, 2013 in Headlines | Read More »

Stock market falters after 6-day run-up

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PSE index as of October 09, 2013, 03:46:00 PM

The local stock market ended a six-day run-up on Wednesday as investors weighed the risks of a US debt default as a result of the political stalemate that has held up passage of the US federal budget alongside concerns about weaker global economic prospects cited by the International Monetary Fund.

Posted: October 9th, 2013 in Latest Business Stories,Stocks | Read More »

JG Summit aims to raise P50B for Meralco deal

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Lance Gokongwei, president of JG Summit. AFP FILE PHOTO

Gokongwei-led JG Summit Holdings Inc. is raising about P50 billion in debt to partly finance a deal to acquire San Miguel Corp.’s entire 27.1-percent stake in Manila Electric Co., the family’s most significant investment in the power business thus far, a top official said.

Posted: October 9th, 2013 in Latest Business Stories | Read More »

JG Summit raises P12 B from sale of URC stock

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jg_summit

The Gokongwei holding company JG Summit Holdings Inc. has raised P12 billion from the sale of a 4.7 percent stake in food unit Universal Robina Corp. through an overnight private placement.

Posted: October 4th, 2013 in Latest Business Stories | Read More »

JG Summit pays P72B for Meralco

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Gokongwei-led JG Summit Holdings Inc. has agreed to pay P72 billion for the 27-percent block held by conglomerate San Miguel Corp. in Manila Electric Co., the country’s largest power distribution firm.

Posted: October 1st, 2013 in Editor's Pick,Headlines | Read More »

Gokongwei eyes SMC’s Meralco stake

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John Gokongwei. INQUIRER file photo

Conglomerate San Miguel Corp. is negotiating to sell its remaining 27.1-percent stake in Manila Electric Co. to the group of tycoon John Gokongwei, potentially completing its divestment from the country’s biggest power distributor.

Posted: September 24th, 2013 in Editor's Pick,Headlines | Read More »

JG Summit H1 profit down 30.8% to P5.17B

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Gokongwei-led conglomerate JG Summit Holdings Inc. saw a 30.8-percent year-on-year decline in its first semester net profit to P5.17 billion due mainly to treasury losses.

Posted: August 15th, 2013 in Headlines | Read More »

JG Summit naphtha cracker plant ready by 2014

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Gokongwei-led JG Summit Holdings Inc. expects to start commercial operations of its $800-million naphtha cracker plant, the first in the country, in the first quarter of early next year as the group bets on a renaissance of the Philippine manufacturing sector.

Posted: June 28th, 2013 in Headlines | Read More »

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