MARKET HEADLINE: SHORT SELLING BY OCTOBER

Millenium Global Holdings, Inc.
#1
Business Profile:

Millennium Global Holdings, Inc. (MG), formerly IPVG Corporation, was incorporated on May 19, 1964 primarily to invest and engage in management of investments in media technology industry: internet, intranet, extranet, and all types of information technology users; purchase, sale, import and export, license, distribution and rental of any computer hardware and equipment; and engage in e-commerce. On February 14, 2013, the Securities and Exchange Commission (SEC) approved the change in corporate name the present one as well as the change in primary purpose to a general holding company.

On January 10, 2014, Company acquired 51% controlling interest in Millennium Ocean Star Corporation. In October of the same year, the Board of MG approved the acquisition of Cebu Canning Corporation (C3) through a combined acquisition of primary and secondary shares. On April 17, 2015, C3 became a subsidiary of MG.

On February 1, 2017, the SEC approved the Company's decrease in authorized capital stock and equity restructuring whereby additional paid-in capital has been approved to partially wipe out its deficit.

Source: SEC Form 17-A (2016)

IPVG Corporation (IP) was incorporated on May 19, 1964. IP is focused in businesses such as information technology & telecommunications, online computer games and business process outsourcing (BPO).

To pursue the Company's businesses, IP incorporated two subsidiaries in 2005, namely, IP Converge Data Center to focus on information technology & telecommunications initiatives, and IP E-Game Ventures Inc. to pursue its online computer games business. In August 2006, IP added another subsidiary, IP Contact Center Outsourcing (IPCCO), to pursue business process outsourcing (BPO) initiatives. At the start of 2008, IP acquired three more companies namely, Prolexic Technologies, Inc., Interactive Teleservices Corp., and Megamobile, Inc. (MMI). In 2009, IP sold off majority stakes in its BPO businesses and in MMI.

On November 17, 2008, in line with the on-going reorganization of the Company, the Board of IP approved the establishment of a wholly-owned private limited corporation in Singapore, subsequently incorporated under the name BPO Holding Company (BPOH), for the purpose of holding all of the Company's investments in voice BPO companies. In view of the foregoing, on November 17, 2008, the Board and shareholders of IPCCO approved the transfer of all IPCCO's property and equipment, intangible assets and employees to BPO Teleservices, Inc. (BPOT), which is a subsidiary of BPOH. In addition, IPCCO's investment in an associate will be transferred to BPOH. Subsequently, on January 15, 2009, IPCCO entered into a deed of absolute sale with BPOT to sell, assign, transfer and convey, absolutely and unconditionally the aforementioned assets.

Source: SEC Form 17-A (2010)



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#2
IPVG spins off subsidiaries

Listed IPVG Corp. has spun off its operating subsidiaries as the holding company takes a different direction, seeking new investors that can bankroll ventures into new and more profitable industries.

The subsidiaries, including IP E-Games Ventures and IP Converge Data Center, will be operating under a new private company. Shareholders of IPVG will also be given shares in the new holding firm.

“The purpose of the restructuring plan is to increase shareholder value and raise cash for the group,” IPVG president and CEO Enrique Y. Gonzales said in a statement.

“At present, IPVG’s current share price is not reflective of the underlying value of the company,” Gonzales said.

By spinning off its units, IPVG will be able to take in new investors who may not necessarily be willing to infuse cash into the subsidiaries.

The restructuring plan was approved by shareholders at their annual meeting last Friday.

“We will find a way to monetize our listed shell. This restructuring will make us more attractive to private equity players out there,” Gonzales told reporters after the stockholders’ meeting.

Gonzales was mum on the nature of the new investments, saying the company had several options and had been in talks with several groups.

In the meantime, Gonzales said the company would also continue to grow its operating units.

The strongest performer for the company so far this year, he said, was IP E-Games. The firm’s revenue has been boosted by its recent acquisition of Internet café chains.

“We’re very focused on growing our consumer Internet business. That’s our investment focus. We believe the consumer Internet sector is going to grow by leaps and bounds over the next few years,” Gonzales said.

He said Internet cafes remained one of the main avenues for Filipinos going online, adding that this was the way for over 70 percent of the country’s users access the Internet.

He said IP E-Games would conduct its IPO before the end of this year, listing at least 20 percent of the company’s outstanding shares. IP E-Games currently has a market capitalization of P2.9 billion.

http://business.inquirer.net/5944/ipvg-s...bsidiaries
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#3
“We will find a way to monetize our listed shell"


Huh! It just show how desperate they are for cash haha!
The World is a Vampire . . .
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#4
IPVG eyes more acquisitions

LISTED technology holding firm IPVG Corp. may acquire new businesses after it completes a restructuring plan that will see it transferring existing assets and liabilities into an unlisted firm where current minority shareholders will be given a proportionate stake.

A person familiar with the matter said the management is considering a proposal that involves the injection of an operating company into IPVG, otherwise known as a backdoor listing transaction.  The person declined to give details, saying a final decision has yet to be made.

IPVG disclosed to the Philippine Stock Exchange (PSE) on Wednesday that it has finalized the terms of the restructuring plan that will be implemented in several stages.

Majority shareholders will initially incorporate and acquire 70 percent of a new company, with the remainder to be “donated” to minority stakeholders of IPVG as of a yet to be determined record date.  

This means minority IPVG stockholders will maintain their shares in IPVG while owning a proportionate number of shares in the newly incorporated vehicle.

The new firm will then buy all or most of IPVG’s assets, including the listed and unlisted subsidiaries.

Listed units of IPVG will be acquired at “not less than” their carrying costs while unlisted subsidiaries will be bought at book value based on the latest audited financial statements, the disclosure noted.

The deal would also be subject to various regulatory approvals from the PSE, Securities and Exchange Commission and Bureau of Internal Revenue, IPVG said.

“Through this new plan, shareholder value is increased and the management is committed to providing an attractive exit opportunity or liquidity scenario for all shareholders,” IPVG chief executive officer Enrique Y. Gonzalez said in a text message yesterday.

The company believes that transferring its assets under an unlisted entity would allow those investments to achieve better values, suggesting IPVG’s disappointment with its current market valuation.

Its market capitalization has been little changed since 2010, even after listing two of its subsidiaries, namely IP E-Game Ventures Inc. and IP Converge Data Center Inc.

IPVG shares declined 7.59 percent to P1.46 each on Wednesday’s trading, giving it a market value of P1.17 billion.

http://www.businessmirror.com.ph/home/co...quisitions
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#5
Press Release: "IPVG Corp. determines mechanics of restructuring plan"

No delisting of IPVG Shares...

http://www.pse.com.ph/html/disclosure/pd...413_IP.pdf
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#6
Hi Mam, positive po ba yang news?.. bat parang bumababa ata lalo price ng IP, pansin ko lang..
~In all your ways, acknowledge God.

Initializing Bazura Mode...
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#7
^^Pwedeng nabasa ang news or hindi kasi yung backdoor listing na sinabi ng newspaper nabasa ko sa Business Mirror. Yung Corporate Disclosure naman ngayon lang.

Sa FS Q12011 may book value si IPVG na stated. Baka dun niya balak bayaran or pa-increase ang value ng IPVG sa future.
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#8
Madami naman atang sumasalo sa 1.40 level nito. I wonder....
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#9
Pagmasdan ko muna ito bago pumasok... hehe.
~In all your ways, acknowledge God.

Initializing Bazura Mode...
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#10
[Image: ip072811.png]

Tongue
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