MARKET HEADLINE: SHORT SELLING BY OCTOBER

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.”
Reply
...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.

source http://www.abs-cbnnews.com/business/04/2...p5-b-bonds
Reply
...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.


source: http://bworldonline.com/cebu-business-pa...ubsidiary/
Reply
3-5

CPVDC to merge with CHI

CEBU Holdings Inc.’s (CHI) directors approved its merger with the Cebu Property Ventures Development Corp. (CPVDC), with CHI as the surviving entity, the company disclosed yesterday.

In a disclosure to the Philippine Stock Exchange, CHI said the merger will be submitted for approval of stockholders of both companies at the respective annual stockholders’ meetings in April. It will then be filed with the Securities and Exchange Commission and wait for approval.

“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,” the disclosure stated.

CPVDC, a subsidiary of CHI, is engaged in real property ownership, marketing, management and development. The company developed the 27-hectare Cebu IT Park, an IT economic zone hosting a mix of businesses in software research and development, business process outsourcing and contact centers. Its wholly-owned subsidiary Asian i-Office Properties Inc. operates the eBloc Towers composed of four buildings with gross leasable space of some 76,000 square meters. 


source: http://www.sunstar.com.ph/article/422131/
Reply
4-11

2 Ayala Land property units merge in Cebu

CEBU CITY-A more balanced portfolio and complimentary land bank and resources are expected with the merger of Ayala-led Cebu Holdings Inc. (CHI) and its subsidiary Cebu Property Ventures Development Corp. (CPVDC).

The merger was formally approved in separate stockholders’ meetings of the two property units of Ayala Land Inc. (ALI) last Tuesday afternoon.

“It would simplify our operations. Instead of two publicly listed companies, we will just be doing it for one larger entity. We will continue with our projects. We have five growth estates in Cebu,” said CHI Chairman Anna Ma. Margarita Dy in a press conference after the meeting.

She pointed out though that they would still need approvals from four government agencies before formalizing the merger.

These agencies are the Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Philippine Stock Exchange (PSE), and the Philippine Economic Zone Authority (PEZA).

These approvals are targeted to be completed in the next two to three months.

In the meantime, Dy said both entities would be operating as before.

As part of the merger, CHI will exchange 1.06 common shares for every one share of CPVDC Class A common shares or Class B common shares. This will result to 996.77 million CHI shares at the end of the merger.

With this, CHI will have a total of 2.157 billion outstanding shares after the merger.

“Our leasing portfolio will grow by almost two and a half times after the merger. We will be opening new hotels in addition to the Seda Hotel in the Cebu Business Park (CBP). Our gross leasable area will grow from 250,000 to almost 600,000 in the next three to five years,” Dy told reporters.

The merger would address listing requirements by being able to comply to the 20-percent public float for 2020, CHI Chief Finance Officer Ma. Luisa Chiong explained in her presentation during the stockholders’ meeting.

It would also mean minimized costs of maintaining two listed companies specifically in terms of meetings, man-hour costs, professional fees, and listing fees, among others.

“There will be a more balanced portfolio as CHI’s expanded mix of businesses will be benefitted by CPVDC’s strong office leasing portfolio and vice-versa. There will also be complimentary landbank portfolio,” Chiong said.

CPVDC’s immediately developable parcels in the Cebu IT Park (CITP) would balance the growth horizon for CHI’s existing land bank, she added.

CHI is an affiliate of ALI which holds shares of 71.96 percent of the company. CHI is the developer of the 50-hectare Cebu Business Park.

On the other hand, CPVDC is a subsidiary of CHI which holds 76.26 of the company’s stocks while ALI holds 7.8 percent of shares of CPVDC which is the owner and developer of the Cebu IT Park.

Another significant shareholder of the CPVDC is the Cebu Provincial Government which has 8.28 percent shares.

After the merger, the province’s share would become 3.83 percent, which, Dy explained, is not disadvantageous as it can be considered “a smaller slice of a bigger pie.”

She said all shareholders of the CPVDC would also become shareholders of the entire CHI after the merger.

CHI President Aniceto Bisnar Jr. said they were setting aside from P1.8 billion to P2 billion in capital expenditure for 2018, depending on construction progress.

In 2017, the group’s capital expenditure was at P2.1 billion.

“With the merger, we will be continuing with our investment program,” he said.

Among CHI’s ongoing developments are the Gatewalk Central in Barangay Subangdaku, Mandaue City; and Seagrove in Barangay Punta Engaño, Lapu-Lapu City


source: http://business.inquirer.net/248981/2-ay...merge-cebu
Reply
4-18

Cebu Holdings, Cebu Property Venture eye better portfolio, bigger land bank

CEBU CITY—A more balanced portfolio and complimentary land bank and resources are expected with the merger of Ayala-led Cebu Holdings Inc. (CHI) and its subsidiary, Cebu Property Ventures Development Corp. (CPVDC).

The merger was approved in separate stockholders’ meeting of the two property units of Ayala Land Inc. (ALI) last week.

“It would simplify our operations. Instead of two publicly listed companies, we will just be doing it for one larger entity. We will continue with our projects, We have five growth estates in Cebu,” said CHI chair Anna Ma. Margarita Dy in a press conference after the meeting.

She pointed out though that they would still need approvals from the Securities and Exchange Commission, Bureau of Internal Revenue, Philippine Stock Exchange and the Philippine Economic Zone Authority before formalizing the merger. The approvals are expected to be secured in the next two to three months.

In line with the merger, CHI will exchange 1.06 common shares for every one CPVDC Class A common share or Class B common share. This will result in 996.77 million CHI shares at the completion of the merger. With this, CHI will have a total of 2.157 billion outstanding shares.

“Our leasing portfolio will grow by almost two and a half times after the merger. We will be opening new hotels in addition to the Seda Hotel in the Cebu Business Park (CBP). Our gross leasable area will grow from 250,000 to almost 600,000 in the next three to five years,” Dy told reporters.

In her presentation during the stockholders’ meeting, CHI chief finance officer Ma. Luisa Chiong said the merger would address listing requirements by being able to comply to the 20 percent public float rule by 2020.

It would also mean minimized costs of maintaining two listed companies specifically in terms of meetings, manhour costs, professional fees and listing fees.

“There will be a more balanced portfolio as CHI’s expanded mix of businesses will be benefited by CPVDC’s strong office leasing portfolio and vice-versa. There will also be complimentary landbank portfolio,” Chiong said.

ALI holds a 71.96-percent stake in CHI, which is the developer of the 50-hectare Cebu Business Park.


source: http://business.inquirer.net/249388/cebu...-land-bank
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)