The retail arm of the Robinsons Group of Companies is set to offer its shares to the public in an Initial Public Offering (IPO) scheduled this October.
The Philippine Stock Exchange (PSE) approved the IPO application of Robinsons Retail Holdings, Inc. which plans to raise up to P42 billion in said offering.
The recent Supreme Court ruling ordering the Securities and Exchange Commission (SEC) to look into the extent of foreign ownership in PLDT raises a very important question: Did the telecommunications giant violate the Philippine Constitution with regard to the maximum 40% foreign equity rule?
In layman’s terms, the Supreme Court is basically asking the SEC: is PLDT owned by Filipinos or by foreigners?
Anyone interested to buy the Philippine Bank of Communications (PBCom)?
PBCom, a minor player in the Philippine banking industry, is again up for rebidding with the Macquarie Group already sending out invitations to other banks to submit a bid proposal.
The sale is part of the bank’s agreement with the Philippine Deposit Insurance Corporation (PDIC) to divest a majority of its shares following the bank’s rehabilitation in 2004 wherein the PDIC extended P7.6 billion worth of financial assistance to PBCom.
