ANGELICA BALLESTEROS, TMT

FOLLOW-ON OFFER RAISES $200M

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DUAL-LISTED fruit canner Del Monte Pacific Ltd.’s (DMPL) dollar-denominated securities debuted on the Philippine Stock Exchange (PSE) on Friday after an oversubscribed follow-on offering that raised $200 million for the company. “After much anticipation from the market, DMPL’s preference shares were finally made available to the public on March 22,…

RAMPING UP CAPEX PAYS OFF

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ALLIANCE Global Group, Inc. (AGI), the listed holding firm of business tycoon Andrew Tan, said its net income rose to P22.8 billion in 2016, a 5 percent increase from the P21.7 billion recorded in 2015. “Since about three to four years ago, the group has made a deliberate effort to…

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LISTED Cosco Capital Inc., the retail holding firm of businessman Lucio Co, on Thursday reported a 7 percent growth in consolidated net income last year to P7.5 billion mainly on the strong performances of its retail and liquor distribution businesses. In a disclosure to the Philippine Stock Exchange, Cosco Capital…

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SUPERMARKETS operator Puregold Price Club Inc. (PGOLD) on Thursday said its net income in 2016 grew by 10.5 percent to P5.53 billion compared to P5 billion reported in 2015 driven by strong consumer demand underpinned by a robust economy. In a disclosure to the Philippine Stock Exchange (PSE), Puregold said…

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Philippine shares rallied on Wednesday to mark the year’s highest close, in line with the climb in Asian markets, but with positive domestic economic indicators giving the market a bigger boost, analysts said. Regina Capital Corp. Business Development Managing Director Luis Limlingan cited the government’s optimism about the Philippine economy…

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LISTED engineering company Megawide Construction Corp. said its consolidated net income in 2016 reached P1.92 billion, a 30 percent increase from the P1.47 billion recorded in 2015, fueled by strong construction demand. “The Construction segment is continuously outperforming its previous year’s revenue production for two consecutive years and has achieved…

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LISTED sugar and ethanol producer Roxas Holdings, Inc. (RHI) on Wednesday denied rumors that two of its subsidiaries were responsible for a recent fish kill incident in Pontevedra, Negros Occidental. Florencio Mamauag Jr., RHI vice president for legal and corporate affairs, said Roxol Bioenergy Corp. (Roxol) and Central Azucarera de…

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