Philippine-based JG Summit Holdings Inc has completed its buyout of San Miguel Corp's 27% stake in power distribution company Manila Electric Co (Meralco) for PHP72 billion.
Philippine Stock Exchange
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Banco de Oro (BDO), the top lender in the Philippines, has successfully completed a PHP5 billion fundraising through an offering of high-yield deposits to retail and institutional investors.
The Philippine Stock Exchange said meeting IPO targets this year would be difficult as market conditions continued to be volatile.
Discovery Shores Boracay's IPO plans are approved by the Philippine's securities commission.
Harbor Star cancelled its Php593 million IPO to September.
Genting Hong Kong’s Philippine Travellers postponed its IPO due to negative market conditions stinging emerging markets.
Genting and Alliance Global postponed Travellers' initial public offering.
The PSE President Hans Sicat says sales record still achievable within the year.
Ayala Land to do bond offer to the market for general corporate purposes.
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