• Bermaz Auto PH files for P1.24-B IPO

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    BERMAZ Auto Philippines Inc. (BAP), local distributor of Mazda vehicles, plans to list its shares on the Philippine Stock Exchange (PSE) in the first half of 2017 with an initial public offering (IPO) of up to P1.24 billion worth of shares.

    In a disclosure to the PSE on Wednesday, Berjaya Philippines said its unit BAP has filed its registration statement with the Securities and Exchange Commission (SEC) seeking permission to list on the PSE next year.

    On 8 December, its Malaysian parent Bermaz Auto Berhad told Bursa Malaysia that BAP is hoping to raise P1.24 billion in fresh funds from an IPO of up to 155 million shares, priced at a maximum of P8 each, within the first half of 2017.

    The offer shares represent a public float of about 15.6 percent for BAP after the IPO.

    Maybank ATR Kim Eng Capital Partners Inc. has been appointed as the international and domestic lead manager and underwriter for the IPO, while Maybank Investment Bank Berhad was named principal adviser.

    BAP will be selling 83.43 million shares through the IPO while the balance of 71.57 million shares will come from selling shareholders which include Berjaya Philippines; Bermaz Motor International Ltd.; Prima Merdu Sdn Bhd; Tan Tech Wah; and Terrific Dynamics Sdn Bhd.

    Berjaya Philippines said it will offer 29 million shares, or a 5 percent stake in BAP, reducing its shareholdings to 20 percent.

    BAP is the distributor of Mazda vehicles in the Philippines through various dealers nationwide.

    Berjaya Philippines also holds a 98.38 percent stake in HR Owen Plc., a company registered in England and
    Wales which operates a number of vehicle franchises of luxury brands such as Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce.

    Incorporated in 1924, Berjaya Philippines is an investment holding firm with subsidiaries engaged in casinos and gaming through leasing online lottery equipment; hotels; automotive; food through Papa John’s Pizza chain; and wholesale of various products.

    Its hotel portfolio includes Best Western Astor Hotel and Berjaya Makati Hotel, while its automotive business includes the distribution of brands under HR Owen and Mazda in the Philippines.

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