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Lucio Co-led Cosco Capital sets $500-M equity offering


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.

Posted: May 7th, 2013 in Latest Business Stories | Read More »

Maybank ATRKimEng complies with 10% minimum public float rule


Financial services group Maybank ATR KimEng Financial Corp. (MATRKE) has boosted its public ownership to 10.25 percent from 0.89 percent, thus complying with the minimum public float required to remain listed on the Philippine Stock Exchange.

Posted: December 27th, 2012 in Latest Business Stories | Read More »

Biz Buzz: Gokongwei-Okada deal is imminent


A deal between the business group of tycoon John Gokongwei Jr. and Japanese businessman Kazuo Okada is imminent and a preliminary deal may be signed “in a few days,” a reliable source tells Biz Buzz.

Posted: December 12th, 2012 in Headlines | Read More »

About face on public float rule

The clock is ticking on the order issued by the Bureau of Internal Revenue in 2010 directing companies listed on the Philippine Stock Exchange to comply with the minimum public ownership requirement, or public float, by the end of the year.

Posted: November 9th, 2012 in Columnists,Featured Columns,Headlines,Inquirer Columns | Read More »

Seacem to sell shares in Lafarge


Cement manufacturing holding firm Southeast Asia Cement Holdings Inc. plans to trim its stake in Lafarge Republic Inc.—whether through a property dividend, share swap or other available options—to allow the latter to shore up its public float.

Posted: September 1st, 2012 in Headlines | Read More »

SMIC gets $150M from sale of shares to large investors


SM Investments Corp. raised $150 million from an overnight sale of shares to institutional investors on Thursday, beefing up its war chest for expansion and widening of its public float.

Posted: August 25th, 2012 in Headlines | Read More »

Firms with less than 10% public float face trading suspension


At least 27 listed companies face trading suspension by the first trading day of 2013 if they would not be able to raise their public float to at least 10 percent as required by the Philippine Stock Exchange.

Posted: August 23rd, 2012 in Headlines | Read More »

Petron rejoining 30-company PSEi

Oil refiner Petron Corp. will be reinstated in the country’s main stock benchmark Philippine Stock Exchange index (PSEi) starting Sept. 10, replacing budget carrier operator Cebu Air.

Posted: August 23rd, 2012 in Headlines | Read More »

Puregold sells P6.5 billion worth of secondary shares


Retailer Puregold Price Club Inc. sold P6.5 billion worth of secondary shares in an overnight equity deal that brought back its public ownership to 32 percent, the same as the level before it took over warehouse shopping chain S&R.

Posted: July 12th, 2012 in Headlines | Read More »

Petron raises public float


Petron Corp., the country’s biggest oil refiner and retailer, has hiked its public float to 14.68 percent, allowing it to comply with the mandated 10-percent public ownership for listed companies.

Posted: February 9th, 2012 in Headlines | Read More »

Tanduay Holdings completes P1.68B equity sale to meet 10% public float


Lucio Tan-led Tanduay Holdings has completed a P1.68-billion equity sale, which allowed the rum-maker to widen its public float to meet the 10 percent minimum required by the local bourse.

Posted: December 15th, 2011 in Latest Business Stories | Read More »

Shipping firm Keppel delists shares


Listed shipping firm Keppel Philippines Marine Inc. (KPMI) will voluntarily delist its shares from the Philippine Stock Exchange (PSE) by the end of October this year after failing to meet public float requirements for locally listed firms. The company was earlier ordered by the PSE to have at least 10 percent of its shares listed [...]

Posted: July 22nd, 2011 in Headlines | Read More »



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