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NOW Corp.
...iba talaga ang may hyper Tongue

Now Corp. approves follow-on offering

NOW Corp. has finalized the terms of its P1-billion follow-on offering (FOO), it disclosed to the stock exchange on Thursday.

The listed firm said its board of directors has approved the FOO with a base size of P500 million and oversubscription option of up to P500 million. The issuance comprises the sale of a total of 10 million preferred shares priced at P100 apiece.

Now Corp. tapped Unicapital, Inc. to be the offering’s issue manager, lead underwriter, and bookrunner.

The company will allow holders of the preferred shares to convert the security into common shares between its third and fourth anniversary, with the conversion price of P20 each.

Other than the preferred shares, the company will also be offering detachable subscription warrants, with a total of 20 million underlying common shares to be issued free of charge.

There will be a total of 10 million warrants, and an addition of up to 10 million for the oversubscription option. These will have a strike price of P10 during the exercise of the offer.

At the same time, the company’s board also approved a P50-million short-term loan with the LandBank of the Philippines. The final terms of the loan will be determined by the company’s executive committee.

Incorporated in 1996, Now Corp. has operations in the telecommunications, media, and technology sectors. The company works on a build-operate-transfer model, where it provides enterprise clients with their own private communications network independent of public telcos, equipped with broadband connectivity, a cyber security plan, and a collaboration software system.

Now Corp. returned to profitability in the first nine months of 2017 with P84,762, against a net loss attributable to the parent of P25.3 million in the same period in 2016. Revenues, meanwhile, more than doubled to P101.6 million during this period.


source: http://bworldonline.com/now-corp-approve...-offering/


NOW Telecom franchise gets 25-year extension

NOW Telecom Company, Inc.’s legislative franchise has been extended for another 25 years.

The NOW Corporation affiliate said in a disclosure to the stock exchange that on Feb. 22, President Rodrigo R. Duterte signed into law Republic Act No. 10972 which extends NOW Telecom’s franchise until 2043.

“With the said law, NOW Telecom, as a telecommunications company, now has the privileges similar to those granted to existing dominant players in the industry,” the disclosure read.

Republic Act (RA) No. 10972, which was first drafted in July last year, renews the old RA No. 7940 to allow the franchise to build, operate, and maintain mobile radio systems within and without the Philippines for 25 years.

The act will take effect 15 days after it is published either in the Official Gazette or any general circulation newspaper.

NOW Telecom Mel V. Velarde said in a Facebook post that this would mean that they have secured a “tri-mega franchise.”

Formerly known as Infocom Communications Network, Inc., NOW Telecom is one of the three telecommunication companies vying take the third slot as one of the major players in the industry. The Department of Information and Communications Technology had announced some of the requirements needed to qualify for the slot, such as having a net worth of at least P10 billion, no liabilities, and that the company should be 60% Filipino-owned.


source: http://bworldonline.com/now-telecom-fran...extension/
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Congrats sa mga nakasakay dito.
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share ko lang din ito..

http://investingengineer.com/now-preferr...-offering/
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$NOW feels dangerous. Even the owner is hyping it.

Better safe than sorry. Good luck!
Trading stocks is never a sure thing. Please do your own homework before pressing the button.

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The price of $NOW on Feb. 26, 2018 (as I posted above) was Php15.96

#GoFigure
Trading stocks is never a sure thing. Please do your own homework before pressing the button.

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6-14

SEC approves Now Corp.’s preferred shares offering

THE Securities and Exchange Commission (SEC) on Wednesday gave the go-signal for Now Corp.’s proposal to issue up to P1 billion worth of preferred shares.

In an e-mail to reporters, the commission said it has approved en banc Now Corp.’s registration statement where it will offer five million preferred A shares at P100 apiece, with an oversubscription option of up to five million preferred A shares at P100 each.

The primary offer consists of five million redeemable, convertible, cumulative, non-participating, non-voting peso-denominated preferred shares. These can be converted into 25 million common shares at P20 each, with one preferred A share equivalent to five common shares.

Each preferred share also includes two detachable subscription warrants to be issued free of charge, for a total of 10 million detachable subscription warrants.

The same terms apply to the oversubscription option of up to five million preferred A shares.

The issuance is set to be offered from June 28 to July 4, with listing at the stock exchange targeted on July 12. The company has engaged Unicapital, Inc. as the issues manager, bookrunner, and underwriter.

The company will still need clearance from the Philippine Stock Exchange to proceed with the offer.

Now Corp., which is widely expected to make a bid to become the third telecommunications player in the country, looks to net P471.05 million from the primary offer, and up to P955.46 million including the oversubscription option.

Proceeds of the offer will be used to partially finance the company’s expansion of Fiber-in-the-Air, its fiber optic network, and for general corporate purposes.

The offer will result to an additional paid-in capital of up to P495 million and P990 million considering the primary offer and over-allotment option, respectively, which the company intends to use to wipe out its capital deficit. It noted that this is why it has been unable to declare and pay dividends.

“Once the company obtains the necessary approvals and implements the equity restructuring plan, the company can resume paying dividends from future cash flows as they no longer have to use the same to eliminate retained earnings debit balances. This will also allow the management the flexibility to invest the surplus cash back to grow the business,” the company said.

Incorporated in 1996, Now Corp.’s core business is in providing telecommunications, media, and information technology products and services under three business segments. These are software licenses and services, IT manpower and resource augmentation, and broadband and wireless cable TV services.

Recently, Now Corp. has expressed its interest to become the third telco player in the country, following the government’s announcement to bid out a franchise for a third telco company that will break the duopoly of PLDT, Inc. and Globe Telecom, Inc.

The company realized a 248% jump in net income to P3.53 million during the first quarter of 2018, lifted by gross revenues that went up 3% to P33.85 million for the period.


source: http://bworldonline.com/sec-approves-now...-offering/
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6-15

Now Corp. inks MoU with TransCo for use of fiber assets

NOW CORP. on Thursday announced it signed a memorandum of understanding (MoU) with the National Transmission Corp. (TransCo) for the use of the latter’s fiber and microwave assets for the establishment of a nationwide fixed broadband network.

“The MoU enables the parties to collaborate on the potential use of TransCo’s existing fiber and microwave assets nationwide, of use and access in certain fiber-optic cores, vacant lots, tower spaces, and related facilities currently being operated on by NGCP (National Grid Corp. of the Philippines) and owned by TransCo, for the purpose of building a nationwide fixed broadband network,” the company said in a statement.

The MoU was signed by TransCo, Now Corp. and its affiliate Now Telecom Company.

“Now is determined to build an independent nationwide backbone to cover the entire country and we are seriously looking on the viability of collaborating with TransCo to achieve this end. We now have a government committed to exhaust all means to solve the digital divide,” Thomas G. Aquino, Now Corp. chairman, was quoted as saying.

Mel V. Velarde, Now Corp. president and CEO, said with its newly renewed 25-year franchise, the company “will co-lead in the unfolding of the full transformation of the digital Filipino.”

Now Corp. is one of the companies keen on becoming the “third” telecommunications player in the country. In February, it was granted an extension of its franchise as a telco, until 2043.

The company has been upgrading its systems to provide improved broadband services in Metro Manila, through a partnership with affiliate Now Telecom. It rolled out its pre-5G technologies to deliver broadband and wireless cable and TV connectivity to enterprises in 2016.

In March, Philippine Telegraph & Telephone Corp., which is also interested in becoming the third player, signed an MoU with TransCo for the use by the telco of the latter’s dark (unused) fiber.

Information and Communications Technology Secretary Eliseo M. Rio, Jr. has said PT&T and TransCo’s MoU for the use of its dark fiber is already a precedent which interested parties can follow. He has said that agreements can happen given that by far, privately held NGCP has not expressed any opposition to the agreement between PT&T and TransCo.

TransCo earlier opposed NGCP’s move to allow third parties to use government property without authority. This includes NGCP’s authorization of PLDT, Inc. and Globe Telecom, Inc. to access the power grid operator’s facilities.


source: http://bworldonline.com/now-corp-inks-mo...er-assets/
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8-15

NOW nets P5.82M in first half  

TECHNOLOGY firm NOW Corp. said net income in the first half soared 158 percent to P5.82 million from last year’s P2.26 million, boosted by its core businesses. In a disclosure on Tuesday, it said gross revenues climbed 29 percent to P87.38 million. It said its Fiber in the Air broadband business realized a 104.88 percent growth in revenues to P20.01 million, while the software licenses and technical services segment grew 34.97 percent to P51.07 million. NOW seeks to bid to become the country’s third major telco player.


source: https://www.manilatimes.net/now-nets-p5-...lf/430582/
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