Another company is planning to conduct its maiden share sale this November, joining the likes of Rustan’s consumer retailer SSI Group, property developer Pro-Friends, and semiconductor firm Phoenix Semiconductor Philippines Corp. that have all announced their Initial Public Offering or IPO before the end of the year.
A property development firm jointly owned by Jollibee Foods Corp.’s CEO Tony Tan Caktiong and Mang Inasal’s owner Edgar Injap Sia could be the first initial public offering (IPO) in the Philippine Stock Exchange (PSE) this year.
The company, DoubleDragon Properties Corp., filed an IPO application with the Securities and Exchange Commission on January 31, hoping to raise more than P1.16 billion from the transaction.
More and more companies have recently signified interest to conduct an initial public offering (IPO), taking advantage of the current upbeat outlook on the Philippines brought about by investment-grade credit rating upgrades and stable economic environment.
An initial public offering or IPO is a way for a company to raise capital, conducted through the issuance of shares to the public. It results in the listing and subsequent trading of shares on a public exchange (the Philippine Stock Exchange, in the case of the Philippines). Aside from IPO, way of introduction is another method of listing shares on the PSE.
Shipping services provider and tugboat operator Harbor Shipping is finally pushing through with its Initial Public Offering (IPO) after deciding to defer it in July 2013 due to market volatility.
The company disclosed to the Philippine Stock Exchange (PSE) that it will offer shares to the public for the first time at no more than P2.50 per share and that the company will be listed and start trading on the exchange on October 30.
Food and beverage maker Del Monte Pacific Ltd., owner of the Del Monte and Today’s brands of pineapple, tomato and mixed-fruit products, started trading on the Philippine Stock Exchange (PSE) today and closed at P27.20, down 8.72% from its initial listing price of P29.80.
DMPL shares hit an intra-day high of P30.00 and a low of P26.55 before closing at P27.20 on its first trading day.
The company got approval from the PSE to offer its shares to the public but not through the traditional way of Initial Public Offering but through the alternative Way of Introduction.
The Rebisco-owned bank, Asia United Bank (AUB), will be the second bank and the second company this year to have an initial public offering (IPO).
The bank recently announced that it will be offering more than 88 million shares to the public for the first time, priced at P95 per share.
The first initial public offering (IPO) the year yielded a one-day gain of 15.40% for those who bought the Philippine Business Bank (PBB) stock during its offer period.
Yesterday, February 19, marked the first day of listing and trading on the Philippine Stock Exchange of Philippine Business Bank, a thrift bank owned by the family of former Ambassador Alfredo M. Yao, also the owners of budget airline Zest Air and fruit juice drink Zest-O.
Those expecting to make a huge profit from the initial public offering of D&L Industries (stock code: DNL) might have to wait longer, after the DNL stock fizzled in the local stock market weeks after its IPO.