April 19, 2012- Morning Linkfest

1.)   Bloomberry to hold $200M equity offering (Inquirer)

Bloomberry Resorts Corp. of tycoon Enrique “Ricky” Razon Jr. will soon embark on a $200-million equity offering to fund the development of his hotel-casino project at Pagcor City.  The re-IPO will be done through a “top-up” offering, which means Razon’s group will first “lend” some secondary shares for a quicker equity deal but the proceeds will flow into the company as the group will later purchase the same number of primary shares that will be issued at a later date.  Proceeds will help fund the completion of Bloomberry’s $1-billion hotel-casino project, Solaire Manila, the first gaming complex to open at Pagcor City toward the end of this year.

 

2.)   SMC plans to raise capital by over P50B (Inquirer)

SMC said it would seek approval from shareholders to raise its authorized capital to P30 billion from the current P22.5 billion by increasing its common shares to 3.79 billion, and by issuing a new series of preferred shares totaling 1.1 billion with a par value of P5 apiece.  Based on SMC’s closing price of P112.16 a share on Wednesday, the additional 400 million common shares that the company plans to issue may be worth P44.86 billion, although these will not necessarily be issued in a single tranche.

 

The authority to issue more common shares will give SMC the flexibility to sell shares for future capital-raising or use its own stock as currency, such as in funding acquisitions through a share-swap.  At a par value of P5 a share, SMC can also raise at least P5.5 billion from the issuance of preferred shares.

 

3.)   URC expanding to Burma to boost SEAsia operations (ABS CBN)

Universal Robina Corp. (URC), is expanding in Burma as it hopes to further strengthen its operations in Southeast Asia.  URC has earmarked around P5.2 billion for its capital expenditure program this year, 14 percent higher than the P4.56 billion spent last year. Majority of the capital budget, or 80 percent, will be used for the continued expansion of its branded consumer foods segment operations – primarily snack foods production facilities in the Philippines and biscuit production facilities in Thailand and Vietnam.  Balance of 20 percent will be used to fund its diversification into fuel ethanol development.

The bioethanol plant in Negros Occidental will have a production capacity of 100,000 liters of ethanol and require an investment of around P27 million.

4.)   East West IPO may raise up to P5.2 billion (ABS CBN)

East West Banking Corp, a medium-sized Philippine lender, has priced its initial public offering at P18.50 per share, the low end of its indicated price range, an underwriter said on Wednesday.

5.)   RLC declares cash dividends (PSE)

Robinsons Land declared cash dividends of Php0.36/share on record as of May 8, 2012 and payable on June 1, 2012.

6.)   URC declares cash dividends (PSE)

URC declared cash dividends of Php1.50 and Php0.40 special dividends/share to all stock holders on record as of May 8, 2012 and payable on June 1, 2012.

7.)   Consunji family buys into Atlas (Philstar)

The Consunji family has acquired a 5.3-percent stake in Atlas Consolidated Mining.  The purchase was made via DFC Holdings Inc., a holding company that forms part of the group of enterprises owned or controlled by the Consunji family, on March 29.

8.)   ALI lines up 67 projects worth P90 billion (Philstar)

ALI plans to roll out 67 new projects – with an unprecedented potential sales value of around P90Bil – in an effort to cover all fronts and develop a bigger and more stable base of consumers.  ALI president Antonino T. Aquino said bulk of the new developments will comprise 50 residential projects, equivalent to about 25,000 units across its five brands to cater to the different economic segments or 25 percent more than the 20,000 units rolled out in 2010.

For this year, Aquino said the company is looking at making its presence felt in Cavite, Bulacan, Rizal, Pampanga and major cities in Visayas and Mindanao.

 

 

 

 

 

 

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