STI Follow On Offering


The Philippine Stock Exchange approved last September 26, 2012 the application of STI to list up to 2,900,000,000 common shares to cover the companies Follow On Offering at an offer price of 1.50 pesos per share.

Proceeds of this FOO will be use in the schools plan expansions in the next three years. has this headline about this STI FOO:

STI’s follow-on equity offering OKd

11:24 pm | Thursday, October 18th, 2012

The Philippine Stock Exchange has approved a follow-on equity offering of STI Education Systems Holdings Inc., formerly JTH Davies Holdings, worth P4.35 billion within this month.

STI is offering up to 2.9 billion common shares for as much as P1.50 per share. The final price will be set on Oct. 23 ahead of the Oct. 29-31 offer period.  The stock trading debut is slated for Nov. 7, based on a PSE memorandum circular.

The Tanco-led company expects to sell up to 80 percent or P3.28 billion worth of the offered shares to the overseas market. The company maintains and operates the Philippines’ largest private for-profit network of educational institutions.

The offered shares will consist of 2.63 billion primary common shares, 03 96.15 percent of the total,  while 105.2 million common shares, or 3.85 percent, will be secondary shares from shareholder Korea Merchant Banking Corp.

There will also be an over allotment option of up to 273 million common shares. STI has granted its stabilizing agent, UBS AG,  the option to take up the over allotment at the offer price. This option can be exercised within 30 days from the listing date.  This would bring the total issue to three billion common shares.

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To learn more about this STI Follow On Offering you can download the related PSE memo and STI prospectus below:


                              Offering Memorandum


Financial Freedom Advocate About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Learn more about Louis and his financial freedom advocacy here.

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