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  Chelsea Logistics Holdings Corp.
Posted by: Ollie - 04-27-2017, 11:23 AM - Forum: StockTraders' Lounge - Replies (17)

...rise of the Davao traders

Chelsea Logistics files for P8-billion IPO to fund expansion

CHELSEA Logistics Corp., a company founded and led by Davao businessman Dennis Uy, has filed with the Securities and Exchange Commission (SEC) a preliminary prospectus for its initial public offering (IPO) by July.

The company said it is planning to offer 546.59 million common shares at a maximum price of P14.63 each, raising P8 billion in fresh capital.

The offer is about 30 percent of its 1.82 billion outstanding shares after the IPO.

The company said it has moved toward launching an IPO to accelerate its expansion while the Philippine economy continues to progress.

This will be the third company of Uy’s Udenna Group to go public after Phoenix Petroleum Philippines Inc. and 2Go Group Inc., which are now under his management. The company hopes to join the main board of the Philippine Stock Exchange (PSE) under the ticker symbol “CLC”.

CLC also lodged with the PSE an application to list the offer shares and the rest of its outstanding shares.

“We are accelerating the expansion of Chelsea Logistics, with a view to make it the prime mover of goods and passengers in the Philippines,” said Uy, the company’s president. “As we move forward, we hope to contribute to our economy’s growth.”

“As it expands further, Chelsea Logistics aims to support and facilitate more efficient trading within and outside the archipelago in light of ongoing efforts to strengthen the Asean Economic Community,” he said.

Proceeds of the IPO is largely earmarked for the expansion of the company’s cargo and passenger shipping businesses organically, as well as through acquisitions.

The company will run the IPO from June 21 to 27 and debut on the PSE on or about July 5, subject to approval by regulators.

BDO Capital serves as the issue manger, lead underwriter and sole bookrunner.

CLC is the logistics arm of Udenna Corp., the holding company of Uy, who has built and grown companies like Phoenix Petroleum into major industry players.

Udenna ventured into the logistics sector as early as 2006 through Chelsea Shipping Corp. (CSC) to support the operations of Phoenix Petroleum, formerly Davao Oil Terminal and Services Corp.

The shipping business of Udenna has since grown into the country’s largest shipping group operating throughout the Philippines and Southeast Asia. It has the largest tanker fleet in the country in terms of capacity with a total 39,271.64 gross registered tonnage.

The company said it wants to further strengthen its presence in the logistics sector by creating synergies with publicly listed integrated transport solutions provider 2Go.

Chelsea was organized and registered with the Philippine Securities and Exchange Commission on August 26, 2016 as Chelsea Shipping Group Corp., and changed its name in December on the same year.

The company engages in the shipping-transport business through its wholly owned subsidiaries CSC and Trans-Asia Shipping Lines Inc.

CSC engages in the maritime conveyance or transport of petroleum products, goods, wares and merchandise in the Philippines, while Trans-Asia Shipping engages in transporting passengers and cargo within Philippine territorial waters and/or in the high seas.

In March 2017, CLC acquired the outstanding capital stock of Udenna Investments BV through a shareswap agreement.

Udenna has economic interests in KGLI-NM Holdings Inc., which has direct ownership of Negros Navigation Co. Inc., the largest shareholder in 2GO Group Inc.


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  Wilcon Depot, Inc.
Posted by: Ollie - 04-27-2017, 10:50 AM - Forum: StockTraders' Lounge - Replies (1)

Wilcon Depot, Inc., (WLCON) was incorporated on December 17, 2015 as a home improvement and construction supplies retailer. WLCON is a subsidiary of Wilcon Corporation, formerly Wilcon Builder's Depot, Inc., which opened its first branch in 1977 along Quezon Avenue in Quezon City.

The Company operates its business and offers its products via two retail formats - the depot store format and the home essentials store format. WLCON has a wide array of product offerings which include local and international brands of tiles and flooring, plumbing and sanitary wares, electrical and lighting products, hardware and tools, furniture, furnishings and houseware, paints, and building materials, among others.

The Company currently operates 36 stores nationwide, 30 of which are depots located in major cities in the country, while two are mall-based and four are stand-alone home essentials stores.

Source: Prospectus (2017)

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  Eagle Cement Corporation
Posted by: Ollie - 04-27-2017, 10:45 AM - Forum: StockTraders' Lounge - Replies (11)

Ang’s Eagle sees Philippine cement boost on Duterte infrastructure plan

PHILIPPINE TYCOON Ramon S. Ang’s cement company is betting that a $169-billion spending spree by President Rodrigo Duterte on infrastructure will spur sales to a record this year.

Sales will probably rise to 4 million metric tons in 2017 from 3 million metric tons last year at Eagle Cement Corp., outpacing the industry’s growth, company President Paul Ang said in an interview in Makati City. The company, poised this week to price the nation’s largest initial public offering in 2017, is expanding its production capacity to meet demand.

“Demand in the past several years has really been driven by private consumption,” Mr. Ang, the eldest of San Miguel Corp. President Ramon Ang’s eight children, said April 20. “Imagine how much more this industry can grow if government spends what it plans to on infrastructure.”

Demand for cement is rising as the Philippines plans to invest P8.4 trillion ($169 billion) to build airports, railways, roads, bridges and subways during Duterte’s six-year term. The increased demand helped boost Eagle’s first-quarter profit by about 25% to P1 billion from a year earlier, the 37-year-old Mr. Ang said.

Eagle and the Ang family, through Far East Cement Corp., plan to sell as many as 575 million shares at up to P16 each in its initial share sale next month. Eagle may get proceeds of up to P8 billion from the total of as much as P9.2 billion.


The younger Ang said he took a loan from his father in 2002 to revive a distressed cement plant in the Malaysian state of Sarawak, turned the company around, and sold it to set up Eagle.

The cement maker’s plant in Bulacan province, north of capital Manila, has capacity of 5.1 million metric tons, and a new production line there will add 2 million tons by 2018. It’s also building a plant in the central province of Cebu to boost capacity by another 2 million tons.

The excess capacity will help Eagle tap markets outside the Philippines’ main island of Luzon, which accounts for two-thirds of the nation’s total demand, according to Mr. Ang.

“I am building now even before demand kicks in,” Mr. Ang said. “By 2020, I would be sold out in Luzon if I don’t start building again.”


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  Shakey’s Pizza Asia Ventures Inc.
Posted by: Gavh1208 - 10-11-2016, 08:39 AM - Forum: StockTraders' Lounge - Replies (27)

PO family-led Shakey’s Pizza Asia Ventures Inc (SPAVI), a leading full-service restaurant in the country, seeks to raise up to P5.5 billion from a local stock market debut this year.

SPAVI filed on Monday a prospectus with the Securities and Exchange Commission (SEC) to sell up to 352 million primary and secondary shares – including 46 million shares to meet excess demand, at a maximum price of P15.58 each.

The offer price is expected to be finalized in November ahead of a possible listing in December 2016.

“We intend to use the offer proceeds for the expansion of our in-house commissary, working capital requirements, potential acquisitions, and repayment of debt,” SPAVI said late Monday.

Deutsche Bank AG had been appointed sole global coordinator and bookrunner for the deal while BDO Capital and Investment Corp. and First Metro Investment Corp. were mandated as joint lead managers and underwriters.

Evercore acts as exclusive financial adviser to SPAVI.

SPAVI’s in-house commissary supplies the bulk of its proprietary pizza dough and crust used to create Shakey’s trademark “thin crust” pizza.

Shakey’s, recognized globally as the original pizza franchise in the US, was first established in the US in 1954 and is best known for “the pizza that started it all”. The first Shakey’s pizza parlor opened in the Philippines in 1975. It has since then gained popularity for its thin crust pizzas and its iconic chicken and mojos.

Locally, where SPAVI owns the rights to the Shakey’s trademark, the company holds the number one position in the traditional full service pizza chain and family style casual dining categories. It had 177 stores all over the country as of June 2016, with plans to expand in the greater Manila and provincial areas. Seven more stores are expected to open before the end of 2016, with 20 more new stores in the pipeline for 2017.

Apart from the Philippines, SPAVI also owns perpetual rights to the Shakey’s brand for the Middle East, Asia (ex Japan and Malaysia), China, Australia, and Oceania.

SPAVI is majority owned by the Po Family’s Century Pacific Group Inc (CPGI), parent company of Philippine listed Century Pacific Food Inc (CNPF).

Earlier this year, CPGI and GIC, Singapore’s sovereign wealth fund, teamed up to acquire majority of the pizza business from the Prieto family, which continues to hold a minority stake in SPAVI.

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  Cemex Holdings Philippines, Inc.
Posted by: Gavh1208 - 07-06-2016, 11:47 AM - Forum: StockTraders' Lounge - Replies (25)

CEMENT manufacturer Cemex Holdings Philippines Inc. is set to start today (Monday) a P25.1-billion initial public offering (IPO).
Cemex priced its IPO at P10.75 per share. It will offer to the public 2.03 billion primary shares with an over-allotment option of 304.95 million shares. This will bring about 45 percent of its stock to public hands and set the company’s market capitalization at P55.85 billion upon listing.
The offering will run from July 4 to 11. Listing on the main board of the Philippine Stock Exchange was tentatively set for July 18. Cemex will use the trading symbol “CHP.”

At P25.1 billion, the Cemex IPO is the third largest conducted in the PSE to date. The two biggest IPOs so far this year were those of retailer Robinsons Retail Holdings Inc. (P28.11 billion in 2013) and Sy family-led conglomerate SM Investments Corp. (P26.25 billion in 2005).
“The deal was oversubscribed even without orders from trading participants and local investors,” said Eduardo Francisco, president of BDO Capital & Investment Corp., the offering’s lead underwriter. As such, Francisco said the oversubscription option would be exercised.
It was earlier reported that some institutional investors had agreed to be the cornerstone investors for the IPO, including BlackRock Inc., Fullerton Fund Management Co. (a unit of Singaporean state investment firm Temasek) and Avanda Investment Management.
The shares of Cemex will also be offered to local small investors (LSI) as part of the retail investor program of the PSE. The LSI program requires the issuer to allocate 10 percent of its offered shares to retail investors.
In the case of Cemex, 406.6 million IPO shares were allotted for trading participants while 203.3 million shares were earmarked for the LSI program.
Citigroup Global Markets Ltd., The Hongkong and Shanghai Banking Corp.’s Singapore branch and JP Morgan Securities plc are the joint global coordinators and joint bookrunners.
“The outlook for cement is actually pretty good. [President] Duterte is planning to boost infrastructure spending. Fuel costs are pretty low so they are able to keep their margins,” said AB Capital Securities analyst Alex Tiu.
But one bit of a “turn-off” for AB Capital is that Cemex is trying to use IPO proceeds to pay debt, Tiu said.
Cemex intends to use proceeds for repayment of $504 million in short-term loan which was incurred in connection with the acquisition of operating subsidiaries Apo Cement Corp. and Solid Cement Corp.
Tiu added that Cemex had a high free float. “So we don’t expect similar performance to Golden Haven Memorial Park (whose price doubled in two days after the IPO),” he said.

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  Golden Bria Holdings Inc.
Posted by: Gavh1208 - 06-12-2016, 04:42 PM - Forum: StockTraders' Lounge - Replies (33)

THE Villar family’s cemetery business arm Golden Haven Memorial Park has set its initial public offering (IPO) price at P10.50 per share, firming up its stock debut size at P778.23 million.

Based on a disclosure to the Philippine Stock Exchange (PSE) on Friday, Golden Haven’s price per share for the IPO had been slashed from the earlier maximum price of P10.62 per share.

The PSE approved the IPO earlier in the week. Asian Alliance Investment Corp. is mandated as the issue manager and sole underwriter for this offering, which will run from June 16 to 22.

Golden Haven was given authority to sell up to 74.117 million new common shares.

Proceeds from the IPO will be used to develop the company’s landbank in Cebu, Iloilo, Cagayan de Oro, Zamboanga, Bulacan and San Exekiel as well as for the acquisition of new land in Iloilo, Bambang (Nueva Vizcaya) and San Fernando, Pampanga.

Golden Haven plans to undertake land and site development of underdeveloped areas in existing memorial parks, pursue more land acquisition as well as construct new memorial chapels and crematory facilities within the Golden Haven Las Pinas Park.

This capital-raising exercise will bring to public hands about 15 percent of Golden Haven’s outstanding stocks after the IPO, during which there will be 494.12 million common shares outstanding.

Golden Haven will be listed on the main board of the Philippine Stock Exchange on June 29.

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  Italpinas Development Corporation
Posted by: Gavh1208 - 11-15-2015, 11:38 AM - Forum: StockTraders' Lounge - Replies (29)

PROPERTY DEVELOPER Italpinas Development Corp. (IDC) on Friday announced the final offer price for its maiden share sale this month, pegging it 14% lower than the initial maximum price.

“In relation to the initial public offering (IPO) of 57,622,000 common shares of Italpinas Development Corp., we would like to inform you that the final offer price of the IDC IPO is P3.60, amounting to a total issue size of P207.43 million,” Unicapital, Inc. Managing Director Leonardo R. Arguelles, Jr. wrote in a Nov. 12 letter to the Philippine Stock Exchange (PSE), a copy of which was uploaded on the bourse’s Web site.

“The offer price is based on the concentration of orders of QIBs (qualified institutional buyers),” he explained in a mobile phone reply on Friday.

Unicapital was tapped as issue manager and underwriter of the transaction.

The P3.60 offer price is lower than the P4.20 maximum price the company initially announced. It will allow the property developer to raise up to P207.44 million, from up to P242 million originally.

The shares to be offered comprise 26% of the company’s outstanding capital stock.

The PSE approved the company’s first-time share sale in its board meeting on Nov. 11, along with the applications of two other IPO hopefuls: real estate and construction company D.M. Wenceslao & Associates, Inc. and diversifying construction firm Datem, Inc.

Italpinas’ offer period is scheduled to run from Nov. 23-27, and the shares will be listed on the Small, Medium and Emerging Board on Dec. 7.

Italpinas is the company behind Primavera City, a mixed-use project consisting of seven residential and commercial buildings in Cagayan de Oro City. Primavera integrates into its design eco-friendly features such as rooftop solar panels to generate part of the buildings’ electricity supply and reducing power use by maximizing natural light and wind ventilation.

The firm is acquiring a property in Sto. Tomas, Batangas where the company plans to undertake a mid- to high-rise residential project. The company also plans more projects in Lipa, Batangas; Cagayan de Oro, Misamis Occidental; Subic, Zambales, Montelago, Oriental Mindoro; Dumaguete, Negros Oriental; and Iloilo City, Iloilo.

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  Metro Retail Stores Group Inc.
Posted by: Ollie - 10-16-2015, 09:07 AM - Forum: StockTraders' Lounge - Replies (94)

Metro Retail IPO gets go-ahead

METRO Retail Stores Group, Inc. of the Gaisano family has hurdled all regulatory approvals for its up to P6.17-billion initial public offering (IPO), even as the timetable of the share sale has been slightly pushed back.

The Philippine Stock Exchange (PSE) approved on Wednesday the first-time share sale of the Visayan retail giant, according to a notice posted on its Web site yesterday.

The multi-format retailer is selling up to 920 million new shares and another 92 million secondary shares, in case of strong demand, at a maximum price of P6.10 apiece.

Post-IPO, Metro Retail Stores will have a market capitalization of P21 billion. The company will have a public float of 26.71%.

The retailer tweaked the timetable of the IPO, with the final price to be determined on Nov. 5. The offer period will run from Nov. 19 to 23.

The shares will be listed on the Main Board of the PSE on Nov. 24 under the trading symbol “MRSGI.”

Under the original timetable, Metro Retail Stores was eyeing to schedule the offer period from Nov. 2 to 6. Trading of the shares was supposed to commence on Nov. 12.

BPI Capital Corp. and Deutsche Bank A.G., Hong Kong Branch were tapped as joint global coordinators and lead underwriters.

Net proceeds from the primary offering will be used for the expansion of store network, establishment of a consolidated logistics and distribution center, and working capital requirements.

Metro Retail Stores is the third company to join the PSE this year after Crown Asia Chemicals Corp. and SBS Philippines Corp.

The retailer’s IPO kick off a busy fourth quarter in terms of equity offerings as corporates rush to the stock market to take advantage of the window of opportunity presented by bets on a delay in the interest rate hike in the United States.

Aside from Metro Retail Stores, the other IPO hopefuls are -- D.M. Wenceslao & Associates, Inc. (P21.7 billion), DATEM, Inc. (P4.66 billion), Pointwest Technologies Corp. (P2.09 billion), TVI Resource Development Phils., Inc. (P1.51 billion), Philippine Primark Properties, Inc. (P1.2 billion), Italpinas Development Corp. (P242 million); Gweilo Corp. (P95 million); Philstocks Financial, Inc. (P190 million); and Green Power Panay Philippines, Inc. (P290 million).


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  Datem Inc.
Posted by: Ollie - 08-24-2015, 03:51 PM - Forum: StockTraders' Lounge - Replies (7)

...thanks Cleene for requesting

Construction firm Datem files for P4.65-B IPO

MANILA - Philippine home builder and construction company Datem Inc has filed a draft prospectus with market regulator for an initial public offering (IPO) to raise up to P4.65 billion ($100 million).

Datem plans to offer up to 286.13 million common shares at a price of up to P14.15 per share, with an over-allotment option of up to 42.92 million shares.

The final price will be fixed on Nov. 12 ahead of the Nov. 16-24 offer period. Datem's shares will list on the Philippine Stock Exchange on Nov. 27.

The proceeds will be used for capital expenditures, including the purchase of construction equipment, land banking and new projects, Datem said.

The 31-year-old company posted a net income of P141.81 million in the first-half, compared with P153.43 million a year earlier, it said in the prospectus.

BPI Capital Corp. and First Metro Investment Corp. are the joint lead underwriters and bookrunners.


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  SBS Philippines Corp
Posted by: Ollie - 07-24-2015, 11:15 AM - Forum: StockTraders' Lounge - Replies (61)

...thanks Cleene for the request

PSE okays SBS IPO; sales start July 28

The Philippine Stock Exchange has approved the planned R1.16-billion initial public offering of SBS Philippines Corporation, a chemical firm owned by the Sytengco family.

PSE documents show, SBS is planning to offer 420 million common shares, at a maximum offer price of R2.75 apiece, equivalent to 35 percent of the company’s outstanding capital after the IPO.

The final offer price will be set on today (July 24) while the offer period will be from July 28 to August 3, 2015. The target listing date is on August 10, 2015.

Proceeds of the initial public offering (IPO) will be used to fund the expansion of the firm’s current product offering, partially retire a term loan, and fund working capital.

SBS Philippines is considered one of the major chemical traders and distributors in the Philippines, supplying more than 1,800 customers with over 3,000 chemical products sourced from 500 suppliers.

Used in more than 140 different industries, its products are supplied to all areas of industry throughout the Philippines and Southeast Asia.

The Sytengco family currently owns directly and indirectly 93.2 percent of the company. After the planned IPO, the family’s stake in the company is expected to be reduced to 60.6 percent.

The Sytengco family’s chemical business started in 1970 with a two-story office and warehouse building in Sta. Cruz, Manila and only 10 employees.

The company was then involved in selling imported industrial chemicals to small and medium-sized manufacturing companies.


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