No it is not Pinoy Big Brother.
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source: http://www.pbb.com.ph[/caption]
Last year the Zest-O group's bank applied for an initial public offering of their bank Philippine Business Bank. As per the circular offer price will be at 31.50 per share. The ipo allocation of PBB's 10.00 peso per share are as follows:
source: https://www.citiseconline.com/final2/ipo/pbb/Downloads/PBB.pdf
a. 242,000,000 common shares, representing the total number of issued and outstanding shares of the Bank prior to the Initial Public Offering (“IPO” or “Offer”) of the Bank’s shares; and b. Up to 101,333,400 common shares, representing the total number of shares to be offered to the public on a primary basis at an Offer Price of up to ₱41.94 per share.
Offer period will be from February 6 to 12, 2013 and listing date will be on February 12. Proceeds of the IPO will go to branch expansion, IT upgrades, and other banking purposes. The company is targeting the SME(Small-Medium Enterprise) with the country's positive economic outlook for 2013. Philippine Business Bank is the banking arm of AMY Holdings headed by the Yao family. Other business of the AMY Holdings includes Zest-O Corporation and Zestair to name a few.
To learn more about Philippine Business Bank's upcoming IPO check out their prospectus at http://www.pbb.com.ph
Check out these news articles for further reading about Philippine Business Banks IPO:
Businessworld:Philippine Business Bank IPO price to give investors an ‘upside’
Manila Standard: Yao’s bank fixes IPO price at P31.50
Reuters: Philippine Business Bank to raise $79 mln in country's first IPO of 2013
Manila Bulletin:PBB IPO Price At P31.50
I missed the boat on this one. I was too afraid of IPOs…. should’ve risked it at the time. I didn’t consider that this bull market can make even a mediocre company look good, so buying PBB wouldn’t really have been risky.
I did place my bid on PBB but I guess I was late already and was not able to catch some in the allocation. Well its out there now lets just time and it. PBB could be EW’s rival in their category both are really gearing up for expansion and to penetrate the other markets were the big banks are already in.
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