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Business

Transpacific sets IPO price at P1.38/share

- Zinnia B. Dela Peña -
Transpacific Broadcast Group International Inc. (TBGI) has pegged at P1.38 per share the price for initial public offering (IPO) of its shares next week, the company told the Philippine Stock Exchange.

Net proceeds from the offering, amounting to P91.83 million, will be used to finance the acquisition of additional very small aperture terminal (VSAT) equipment (P69 million), working capital requirements (P12.9 million), and marketing promotions (P9.9 million).

The company will offer to the public a total of 76.64 million common shares, representing 37 percent of its outstanding capital stock. The offering period for the shares is from Nov. 17 to 28 while the listing date has been scheduled on Dec. 12.

RCBC Capital Corp. has been tapped as lead underwriter for the issue. Ten percent of the total number of shares to be offered to the public will be available under the small investors plan.

Formed in 1995, TBGI started commercial operations of its satellite broadcast facilities in the first half of 1996. It is a duly registered Clark Special Economic Zone enterprise with a 25-year lease agreement to build, maintain, and manage a satellite earth station within the CSEZ.

TBGI also holds a 25-year Congressional telecom franchise granted on June 22, 1998. It has an approved provisional authority to transmit radio signals to satellites granted by the National Telecommunications Commission on April 1999.

The firm provides digital uplink services for the audio/video media. It further provides real-time nationwide telecast, satellite-based video/data feeds with ad insertions, broadband point-to-point delivery, multi-media services, video conferencing, and remote data center co-location and management.

vuukle comment

CAPITAL

CAPITAL CORP

CLARK SPECIAL ECONOMIC ZONE

MILLION

NATIONAL TELECOMMUNICATIONS COMMISSION

OFFERING

PHILIPPINE STOCK EXCHANGE

PUBLIC

SATELLITE

SHARES

TRANSPACIFIC BROADCAST GROUP INTERNATIONAL INC

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