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Cebu Pacific IPO

oca1101uk · 187 · 41785

oca1101uk

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on: Mar 09, 2010, 05:31 AM
Gokongwei’s Cebu Pacific to go public
IPO seen raising P12B for budget airline
By Paolo Montecillo
Philippine Daily Inquirer
First Posted 23:20:00 03/08/2010

MANILA, Philippines—Budget carrier Cebu Pacific Monday announced plans to raise about P12 billion through the sale of new shares to the public.

Cebu Air Inc., the company that operates the Cebu Pacific airline, said it planned to list 125.25 million new common shares through an initial public offering (IPO). At the maximum offer price of P95 each set by the company, the new shares are valued at close to P12 billion.

The company also said that it had asked the Securities and Exchange Commission to approve its request to list an additional 110 million existing shares at the same price.

The company wants to list 35.33 million shares owned by Cebu Pacific’s parent company JG Summit Holdings Inc. “subject to the over-allotment option granted to the stabilizing agent under the same terms and conditions as the primary and secondary offer.”

In addition, an extra 18.4 million shares will also be listed as part of the company’s employee stock option plan, at a 25-percent discount to the IPO price.

The company originally planned to go public in 2008, but jittery market conditions at the time forced Cebu Pacific to postpone an IPO.

Officials Monday said that while the airline’s shares would be listed on the local bourse, the company would offer the shares primarily to international institutional investors.

“There is not enough capital available in the country for an offer of this size,” JG Summit vice president for finance Bach Johann Sebastian said in an interview.

He said the figures were only indicative and did not necessarily mean that this would be the exact amount the company wanted to raise.

Sebastian declined to say when the company planned to conduct its IPO. “We just had to put a nominal value in our request, but that does not mean that we are targeting to raise that amount,” he said.

He said the proceeds of the IPO would be used for the company’s continuing expansion plans.

Cebu Pacific swung to profitability in the third quarter of last year with a net income of P1.78 billion against a net loss of P1.87 billion in the same period in 2008.


Initial Public Offering at the maximum offer price of 95Pesos each...
« Last Edit: Oct 19, 2010, 07:08 PM by FutureGizmo »


artsky

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Reply #1 on: Mar 09, 2010, 08:25 AM
thanks for this info. i wonder how can i be alerted of this once this pushes thru?


cool_78

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Reply #2 on: Mar 09, 2010, 08:31 AM
Looks interesting, but I am not really a fan of Gokongwei stucks, barat sa dividends  :watchuthink:


berns

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Reply #3 on: Mar 09, 2010, 09:10 AM
Is 95 a reasonably good price for Cebu Pac?


bauer

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Reply #4 on: Mar 09, 2010, 10:55 AM

Looks interesting, but I am not really a fan of Gokongwei stucks, barat sa dividends  :watchuthink:


same observation, mabagal pa gumalaw stock price. kulang sa clarity ang FS.


oca1101uk

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Reply #5 on: Mar 09, 2010, 06:22 PM
@ bauer

You can always ask your stock broker when is the initial public offering dates. If you haven't got one, I'll promise you to keep you posted.  :grin1:


bauer

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Reply #6 on: Mar 10, 2010, 12:49 PM
thanks but so far not interested in IPO; i need to see their FS after the IPO.  so far airlines are not doing good
« Last Edit: Oct 19, 2010, 07:08 PM by FutureGizmo »


sarky

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Reply #7 on: Mar 11, 2010, 10:49 PM



thanks but so far not interested in IPO; i need to see their FS after the IPO.  so far airlines are not doing good


how can u guys really see a bad FS when companys are really good at hinding thier real financial position you must be very good detectives...im just a spectator in the investment game


bauer

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Reply #8 on: Mar 12, 2010, 05:24 PM
one of the big problems in IPO of companies in the philippines is they dont show their FS prior to the IPO so investors are totally relying on 'gut feel'  i already learned my lessons from the past so i will never repeat it again.

you can get the audited FS of private unlisted companies in the SEC, just pay for the research fee.  study the FS using techniques that i learned from books (you can easily buy it in amazon)

good luck


berns

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Reply #9 on: Mar 12, 2010, 07:18 PM



thanks but so far not interested in IPO; i need to see their FS after the IPO.  so far airlines are not doing good


hmm true but i read pa sa newspaper that cebu pacific's 2009 net income increased... kaya i was quite impressed kc I know pal is not doing good.  :huh:


sarky

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Reply #10 on: Mar 12, 2010, 09:48 PM
but isnt it quite true that in a bull market like what we have now ipos usually do good?


GIG

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Reply #11 on: Mar 13, 2010, 12:39 AM
@bauer

A company always show their FS before an IPO. They call it the "red herring". You can even download it at the PSE website as a pdf file. This would include the FS and all the marketing ploy they could cramp in it. Beware though, in real life,as the name suggest the "red herring" never existed. People were convinced that there was a red herring (herring is a kind of fish). Until now there were no proof of a red herring.  It was just a myth. As to why they call the document the "red herring", boggles my mind. Lets just read between the lines hehe!


mlangseth

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Reply #12 on: Mar 13, 2010, 05:38 AM
Even if I can afford to buy this stock - murang -mura for IPO , I will not patronize this company..maraming kabulastogan, walang respect sa mga mentally -challenged and the flight skeds leaves something to be desired.
I would rather put my money on SUnlife..
just my thoughts.


bauer

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Reply #13 on: Mar 13, 2010, 05:24 PM
GIG, thanks for the info on red herring,

bought IPO's before like mwc, ap hindi ko nabasa sa pse website about red herring, i'll try to check it.


GIG

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Reply #14 on: Mar 19, 2010, 05:38 PM
Update:

Sec gives nod to cebu pacific IPO. No new info compared to the first post by oca1101uk except that the listing may happen on May 4 of this year.


 


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