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Sunday, October 27, 2013

A Look at Initial Public Offers in 2013

The Philippine Stocks Exchange expects a total of nine public listings for this year.

Philippine Business Bank (PBB)
Sector - Financials (Bank)
Initial offer price - P31.50 (Feb. 19)
All time high - P38.85 (Mar. 5)
All time low - P21.85 (Aug. 28)

PBB is a savings bank which focuses on corporate and small and medium enterprise markets. It provides close to a full range of banking services and products including cash management, retail and corporate lending, deposit products, international trade finance, treasury and trust products. Trade price now ranges from P24 to P24.60.

Asia United Bank Corporation (AUB)
Sector - Financials (Bank)
Initial offer price - P95 (May 20)
All time high - P105.50 (Mar. 5)
All time low - P56 (Aug. 28)

AUB is a medium-sized commercial bank that provides, directly and through its subsidiaries, a wide range of banking and other financial products and services including corporate and consumer banking products and services as well as a wide array of investment products. AUB's principal banking products and services include corporate and consumer loans, deposit products, corporate banking, treasury and trust products and cash management solutions, among other services. Such products are offered to a wide range of customers, including consumers, SMEs and large corporates. Trade price now ranges from P68 to P73.

Del Monte Pacific Limited (DMPL)
Sector - Industrial (Food & Beverage)
Initial offer price - P29.80 (Jun. 10)
All time high - P39.50 (Oct. 11)
All time low - P20 (Jun. 25)

DMPL owns the Del Monte brand in the Philippines for processed products where it enjoys leading market shares for canned pineapple juice and juice drinks, canned pineapple and tropical mixed fruits, tomato sauce, spaghetti sauce and tomato ketchup. Trade price now ranges from P30 to P33.50.

AG Finance, Incorporated (AGF)
Sector - Financials (Other financial institution)
Initial offer price - P2.18 (Aug. 13)
All time high - P3.74 (Oct. 8)
All time low - P2.12 (Aug. 13)

AGF's customer profile includes professional and skilled workers bound for deployment overseas needing immediate funds to support their various needs in their country of deployment, excluding legal and placement fees, and regularized employees of medium-sized commercial enterprises based in the Philippines. The products come in the form of salary loans ranging from P10,000 to P50,000 payable over a term of 12 months via salary deduction arrangement and OFW loans worth P50,000 and up payable over a term of 12 to 18 months via post-dated checks. Trade price now ranges from P3.10 to P3.55.

Harbor Star Shipping Services just concluded its IPO priced at P1.88 per share and will be listed on Oct. 30. Travellers International Hotel Group (P11.28 apiece), Robinsons Retail Holdings Inc.(P58 per share) and Concepcion Industrial Corp and Frontier Oil also plan to make list publicly before the year closes.

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The information provided in our review may not be as relevant today given the time gaps and change in varying economic conditions. While we strive to account every business possibilities that may affect a company's profitability, this is not a recommendation to buy or sell these particular stocks. We cannot be held liable for any investment decisions made in consequence to our articles.