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Cebu Holdings, Inc
Thanks for the heads up, bro Luc23!
“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”
...puro bonds offerings ah, uso ba 'to ngayon?

Cebu holdings to issue P5-B bonds

MANILA, Philippines – Ayala-led property developer Cebu Holdings Inc. is seeking approval from the Securities and Exchange Commission (SEC) to issue up to P5 billion worth of fixed rate bonds due 2021.

The proposed bonds will be issued in tranches, with the initial tranche amounting to P3 billion and an oversubscription option, and will be listed with the Philippine Dealing & Exchange Corp.

BPI Capital Corp. and First Metro Investments Corp. were tapped as the joint issue managers and joint lead underwriters for the offering.

The property firm said the bonds will be issued in the denominations of P50,000 each as a minimum and in the multiples of P10,000 thereafter.

Cebu Holdings’ net income in 2013 climbed 13 percent to P501.1 million from P443.6 million in 2012 as consolidated revenues jumped 32.85 percent to P2.17 billion compared to P1.63 billion in 2012.

It doubled its capital expenditure spending in 2013 to P2.53 billion for the development of residential projects, shopping centers and office towers.

...baka nakakalimutan na ng iba na Ayala 'to CHI

Cebu Business Park developer set to merge with subsidiary

CEBU HOLDINGS, Inc. (CHI) is merging with subsidiary Cebu Property Ventures Development Corp. (CPVDC), as it seeks to promote operational synergies between their developments.

In separate disclosures posted after the stock market’s close on Monday, CHI and CPVDC said their respective boards of directors have approved the plan to merge the two companies, with the former as the surviving entity.

CHI is an affiliate of Ayala Land, Inc., and is the developer of the 50-hectare Cebu Business Park in Cebu City.

“The merger will consolidate the company’s portfolio under one listed entity, creating a unified portfolio for its investments and is expected to result in operational synergies, efficient funds management, and simplified reporting to government agencies as a result of the merger,” CHI said.

CHI will exchange 1.06 common shares for every one share of CPVDC Class A common shares or Class B common shares, resulting to 996.77 million CHI shares at the end of the merger. CHI said the exchange ratio was based on the net asset values of both companies.

With this, CHI will have a total of 2.916 billion outstanding shares after the merger. CPVDC, meanwhile, will cease to exist, should the transaction be approved by the Securities and Exchange Commission (SEC). CPVDC said all its assets and liabilities will also be absorbed by CHI.

The companies will seek the approval of their respective shareholders during the annual stockholders’ meetings on April 10. If approved, they will notify the SEC of the merger, which is expected to be approved within the next two months.

Incorporated in 1990 as a joint venture corporation between the province of Cebu and ALI, CPVDC is the owner and developer of the Cebu IT Park. The development covers 27 hectares and has been accredited as an IT park by the Philippine Economic Zone Authority in 2000.

Cebu IT Park is 1.5 kilometers away from CHI’s Cebu Business Park, which features residential, office, retail, and leisure facilities. Through CPVDC, CHI is also involved in the sale of office and residential condominium units, commercial lease of retail space, sale of proprietary sports club shares, and hotel development and operations.

CPVDC’s market capitalization stood at P3.385 billion on Monday, while CHI’s market cap was at P11.712 billion.

Both companies said they will disclose further information on the merger in due course.


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