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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.


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.

Congrats sa mga nakasakay dito.
share ko lang din ito..
$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.

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

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


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