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SYSTEMS Technology Institute Inc. (STI) said it will
list its shares with the Philippine Stock Exchange and the Singapore
Stock Exchange by early next year.
Eugenio Tanco, STI executive
committee chair-man, said that the listing with both bourses may not
be simultaneous.
“If you buy a share whether in
Singapore or Manila, it’s still the same. You don’t have to have
the same [time]. It can be listed here first,” he said.
The school will conduct its
maiden share offering by the second quarter next year through the
sale of new shares that will raise P1.5 billion. Proceeds of the
share sale will be used to fund the company’s expansion.
About P250 million of the
proceeds would go to the construction of a new academic center in
Bonifacio Global City, Taguig after the Bases Conversion and
Development Authority awarded the lease contract to the school.
The campus would have an
eight-story complex that would be completed next year which would
house a school, research and development center and newest
gymnasium.
According to Eugenio, STI
is also expanding its campuses through acquisition of properties in
various areas nationwide. It recently bought a 2,000-square-meter
property in Cebu where a new STI campus would be built.
The school is also poised to
acquire some hospitals that can be integrated into the STI system as
teaching hospitals. STI is already offering non-information
technology related courses like nursing.
STI recently established the
DLS-STI Megaclinic in SM Megamall and also has investments in Delos
Santos-STI Medical Center.
Also part of its aggressive
expansion is the acquisition of existing schools, as STI is
“looking at a number” of Manila-based education centers that are
“leaning on certain specialties,” Eugenio said.
--Likha C. Cuevas-Miel
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