Fundraising plans of 3 firms OKd

The Securities and Exchange Commission has approved a number of domestic fundraising activities, including a revised initial public offering (IPO) plan of restaurant chain operator Gweilo Corp.

The SEC approved a change in the IPO terms of Gweilo, which was given authority to sell up to 105 million new shares at P1 per share, bringing to the public about 34 percent of its outstanding stocks. Gweilo earlier obtained the go-ahead to sell up to 95 million common shares at a price of up to P1 per share.

Also approved by the SEC was a plan of property developer Sta. Lucia Land Inc. to offer to retail investors as much as P5 billion worth of fixed rate bonds. The base offer is worth P3 billion but it has an option to increase the offering by another P2 billion.

Proceeds will be used by Sta. Lucia to refinance loans and to boost capital outlays needed for land acquisition and other ongoing projects.

Sta. Lucia has named China Banking Corp. issue manager, lead underwriter and bookrunner for the issuance. Other co-led underwriters are Amalgamated Investment Bancorporation and BDO Capital & Investment Corp.

Separately, the SEC approved the P25-billion fundraising by BDO Leasing and Finance Inc. through the issuance of short-term commercial papers (STCPs). The first tranche of STCP is worth P10 billion while the next would be about P15 billion. Doris Dumlao-Abadilla