IPO

8990 Holdings (HOUSE) sells follow-on shares at P6.50 each

Low-cost mass housing developer 8990 Holdings Inc. (PSE stock code: HOUSE) will raise as much as P9 billion by conducting a follow-on share offering this May 2014, with each share priced at P6.50 apiece.

HOUSE, the developer of “DECA Homes” and “Urban DECA Homes” projects will issue 1.245 billion shares, of which 862.19 million are new common shares to be issued and offered by the company while 382.36 million shares are existing shares of selling shareholders. There is an over-allotment option up to 134.95 million shares.

The retail offering will run from May 2 until May 8. New shares will be listed and will start trading in the PSE on May 14.

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Double Dragon IPO could be first IPO in 2014

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.

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Concepcion Industrial Corp.: Initial Public Offering (IPO)

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.

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