News Flash

October 08, 2015, Thursday
  • A Filipino & 4 foreign crew members were on board the yatch ‘Europa’ when it went missing during the height of storm ‘Kabayan.’ 9 hours ago |
  • PCG suspects the missing yatch ‘Europa’ heading to Vigan last week may have sunk in the South China Sea. 9 hours ago |
  • Sen. Bongbong Marcos says his mother has always wanted him to be president since he was 3 years old. 9 hours ago |
  • Fmr. First Lady Imelda Marcos is dismayed that Sen. Marcos is eyeing the vice presidency. 9 hours ago |
  • DOJ forms a panel to investigate the INC leaders who had allegedly detained Ex-Min. Isaias Samson & his family. 9 hours ago |
  • GPH Peace Panel Head Miriam Coronel-Ferrer hopes Congress can tackle BBL before the APEC meeting in Nov. 9 hours ago |
  • MILF Chief Peace Negotiator Mohagher Iqbal urges Pres. Aquino to certify as urgent the measure on proposed BBL. 9 hours ago |
  • Duterte will reportedly announce on Saturday his decision on whether or not he will run for president. 9 hours ago |
  • Vice President Jejomar Binay to announce his running mate on Friday. 9 hours ago |
  • MMDA Chairman Francis Tolentino resigns from his post. 9 hours ago |
  • Former Senator Joker Arroyo passes away at 88 in the United States. 15 hours ago |
  • Senate session hall can’t be used for Binay-related probe as it is being used for budget hearings. 15 hours ago |
  • 25th Senate hearing on allegations vs. Binay won’t push through on Thurs. allegedly due to lack of venue. 15 hours ago |
  • Gabriela party-list files a resolution seeking a House probe on alleged use of women as sex objects at LP event in Laguna. 15 hours ago |
  • Fatalities due to tropical storm ‘Kabayan’ rises to 4. 15 hours ago |
  • Postponement of Ex-Chief Justice Corona’s case at Court of Tax Appeals’ 2nd division is due to the TRO issued by CTA en banc. 16 hours ago |
  • Fmr. Chief Justice Renato Corona’s arraignment at Court of Tax Appeals postponed anew & reset to Dec. 9, 2015. 16 hours ago |
  • Sen. Bongbong Marcos says a vice president should be able to work with any president even if they have conflicting views. 16 hours ago |
  • Sen. Bongbong Marcos says he will announce his candidate for president on Saturday. 16 hours ago |
  • Sarangani Rep. Manny Pacquiao considers running as an independent senatorial candidate. 16 hours ago |
  • Over 250 dengue cases reported in Albay since January this year. 16 hours ago |
  • 10 of 14 victims in collision of 2 vans along Macapagal Blvd. taken to San Juan De Dios Hospital in Pasay City. 16 hours ago |
  • 14 injured in a collision between an armored van & a ‘colorum’ Urvan van along Macapagal Blvd. in Paranaque City. 16 hours ago |
  • Sarangani Rep. Manny Pacquiao to retire from boxing if he will win as senator. 17 hours ago |
  • Tolentino says sorry to LP, Roxas, Rep. Agarao, women’s groups & his own mother who was offended by the lewd dance number. 17 hours ago |
  • Tolentino says as the highest official present during the LP event, he failed to stop the indecent performance of the girl group on stage. 17 hours ago |
  • Tolentino asks for understanding & apologizes to everyone he offended when he failed to stop the girl group’s lewd dance in Laguna. 17 hours ago |
  • Tolentino asks LP to remove him from its senatorial line-up. 17 hours ago |
  • Violation of Magna Carta of Women & Code of Conduct & Ethical Standards filed vs. Tolentino at Ombudsman. 17 hours ago |
  • Labor groups sue MMDA Chairman Francis Tolentino over a girl group’s lewd dance at LP event. 18 hours ago |

Rebisco mulling over initial public offering

By Jenniffer B. Austria | Apr. 29, 2013 at 12:02am
Republic Biscuit Corp., the snack food company of the Ng family, is mulling over plans to go public, after the group’s banking unit secured clearance to list with the Philippine Stock Exchange.

Rebisco director Jacinto Ng Jr. said an initial public offering was something the company might consider to undertake. Ng, however, said there was still no definite timetable yet for the IPO.

“The current strong consumer spending is one factor that is tempting us to list. Unfortunately, the organization is not yet ready,” he said.

Ng said the Rebisco group needed to prepare before going public.

Rebisco, which is based in Novaliches, Quezon City, is the manufacturer of Rebisco cracker sandwiches as well as a variety of snack food ranging from nuts and seeds, cakes, wafer sticks, chips, curls, candies and gums.

The Rebisco group includes other food companies such as JBC Food Corp., Suncrest Foods Inc., Multirich Food Corp., Pinnacle Foods Inc. and SPI Corp.

The Ng family has interests in banking and property development. It has a minority stake in Belle Corp. of retail tycoon Henry Sy Sr., which is developing a casino project in Parañaque City.

Ng said the group planned to expand in the tourism sector and was looking at prime destinations in the country, including Palawan, Manila, Cebu, Bohol and Boracay for possible expansion.

The Ng group’s Earth and Style Corp. develops suburban housing communities for the middle-income market and the overseas Filipino workers’ market.

The Ng group also owns the Oakwood building in Ortigas Center, which houses a full-service hotel and serves as the headquarters of the Asia United Bank, the group’s banking unit.

The group is pushing ahead with the listing of AUB next month.  AUB plans to raise P7 billion to P9.7 billion through the sale of 88 million common shares, including 8 million shares to cover the overallotment option.

The bank set an indicative price of P80 to P110 per share.

AUB said it would use the proceeds from the IPO to expand its branch network by 250 over the next five years.

AUB had network of 117 branches in Metro Manila and key cities throughout the Philippines as of December 2012.  These included 28 branches acquired from Asiatrust Bank.

The bank said it planned to open 20 new branches in Metro Manila in 2013 and 33 in 2014, as well as 25 new branches outside Metro Manila in 2013 and 10 in 2014.
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