Market summary
In the Telecommunications sector, PLDT had completed the sale of its 230 telecommunications towers to Frontier Tower Associates Philippines, Inc. for c. USD213.0m.
Ayala Corp. and subsidiary Philwater Holdings Co. to sell c. USD100.3m in Manila Water shares in a buyback deal, supporting Ayala's financial strategy.
Singapore's Inteluck, a technology-driven supply chain solution provider, has secured USD34.0m in Series C funding, led by Navegar and with participation from East Ventures.
Aggregate Deal Value = USD400.6m
This month’s top deals
Energy & Utilities
Alternergy taps three investment banks to raise PHP12 billion for wind power projects
Alternergy Holdings Corp. said it had tapped three investment banks to lead in raising the PHP12 billion project financing for its two wind power projects. In a stock exchange disclosure, the energy company said it had mandated BPI Capital Corp., RCBC Capital Corp., and SB Capital Investment Corp. — after a competitive process — to assist in finalizing the terms and structure of the debt financing for the projects.
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Alternergy taps three investment banks to raise PHP12 billion for wind power projects
ACEN secures PHP5 billion loan for corporate spending, RE projects
Meralco takes control of solar firm for PHP16 billion
Ayala group sells PHP5.7 billion stake in Manila Water
Phoenix Petroleum firms up ‘assets sale & lease-back deal’ with BDO
Telecommunication
PLDT completes PHP2.8 billion sale of 230 telecom towers to Frontier
PLDT Inc. announced that it had completed the sale of its 230 telecommunications towers to Frontier Tower Associates Philippines, Inc. for PHP2.8 billion. This is part of the 1,012 towers PLDT sold to Frontier through a PHP12.1 billion sale-and-leaseback deal announced in March.
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PLDT completes PHP2.8 billion sale of 230 telecom towers to Frontier
DITO agrees to PHP3.3 billion subscription to its shares
ADB OKs PHP2.4 billion for iSON Tower's project
Real estate
Australia's Digital Classifieds Group acquired Lamudi Philippines and Indonesia
Australia-based Digital Classifieds Group (DCG) has acquired the assets of online property marketplace Lamudi in the Philippines and Indonesia to partly sustain its growth. In a statement, DCG said it had acquired Lamudi assets from Dubizzle Group, formerly known as EMPG. The recent deal came after DCG acquired Bangladeshi property portal Bproperty in January. DCG claims that the recent acquisition makes it the second-largest property portal operator in Asia.
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Australia’s Digital Classifieds Group acquires Lamudi Philippines and Indonesia
Century Properties board approves PHP5 billion preferred shares offering
Arthaland set to acquire shares, add capital in Bhavya Properties
Industrials & Manufacturing
Dennis Uy's Phoenix to raise USD19.2 million from sale of SG unit
Phoenix Petroleum Philippines Inc. of Davao-based businessman Dennis Uy is poised to raise USD19.2 million from its divestment in its Singapore-based subsidiary. In a stock exchange filing, Phoenix said the amount to be raised from the transaction would be utilized to meet the immediate needs of the business for working capital to purchase inventory for its business-to-business customers.
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Dennis Uy’s Phoenix to raise USD19.2 million from sale of SG unit
Agriculture
Kita Agritech raises USD3 million Seed funding to digitize agri supply chain
Kita Agritech, an agricultural technology startup based in the Philippines, has announced raising USD3 million (about PHP 170 million) in seed funding, the largest seed round in the country so far this year. The oversubscribed funding round was co-led by Gentree Fund, the investment vehicle of the Sy Family Office, and Singapore-based early stage investor Altara Ventures.
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Kita Agritech raises USD3 million Seed funding to digitize agri supply chain
Consumer and Retail
Max's sets share buyback program
Listed restaurant chain operator Max's Group Inc. (MGI) has embarked on a one-year repurchase program involving PHP200 million worth of shares. "On August 14, 2023, the company's board of directors approved the buyback of its shares with a total acquisition value of up to PHP200 million," MGI told the stock exchange. It noted that the buyback program might be executed through several tranches for a period of one year ending on Aug. 14, 2024.
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Transportation & Logistics
Singapore's Inteluck raises USD34 million in Series C funding led by Navegar
Inteluck, a Singapore-based technology-driven supply chain solution provider, has announce the successful completion of its Series C funding round, securing USD34 million in investment. Inteluck said in a statement that the round was led by Philippines-focused private equity firm Navegar and joined by existing investor East Ventures, a venture capital firm in Southeast Asia.
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Singapore’s Inteluck raises USD34 million in Series C funding led by Navegar
Financial Services
Kickstart completes funding round for RuralNet
Kickstart Ventures, Inc. has completed a fresh round of seed funding for a digital microinsurance distribution platform, RuralNet, Inc. The corporate venture capital firm said RuralNet has bagged a combined USD2.15 million from its investors that will be used for its expansion plans. The funding round, Kickstart Ventures said, was also participated in by other investors such as Gentree Fund, Foxmont Capital Partners, and Kaya Founders.
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BPI to issue 314 million shares to Gokongwei Group
Healthcare
MPIC health unit buys Antipolo Doctors Hospital
The healthcare arm of conglomerate Metro Pacific Investments Corp. (MPIC) has acquired a majority stake in Antipolo Doctors Hospital (ADH), further expanding its hospital network. In a statement, MPIC’s subsidiary Metro Pacific Health (MPH) said it had secured a majority stake in Antipolo Doctors, Inc., which owns and operates ADH. The hospital is located along Manuel L. Quezon Extension in Antipolo, Rizal. The acquisition of ADH marks the first hospital of MPH in Rizal province.
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Technology
SolX gets PHP22 million investment from NDC, Real Tech
Tech startup Solx Technologies, Inc. received a PHP22 million investment from the National Development Co.’s (NDC) Startup Venture Fund (SVF) and a Japanese venture capital firm as it aims to deliver cheaper energy to businesses in the Philippines.
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Salon and wellness tech platform Parlon raises USD400,000 in pre-seed round
Others
Century Pacific, JE Holdings increase Shakey's Pizza stake
Century Pacific Group, Inc. and JE Holdings Inc. have increased their stakes in listed restaurant operator Shakey’s Pizza Asia Ventures, Inc. after buying out shares that were previously held by Arran Investment Pte. Ltd. In a stock exchange disclosure, Shakey’s said Century Pacific and JE Holdings bought the stake of Singapore’s sovereign wealth fund GIC Pte. Ltd., through affiliate Arran Investment, under a private placement scheme. Century Pacific and JE Holdings are the private holding firms of the Po and Gokongwei families, respectively.
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Philippines' most indebted company San Miguel in talks for USD2 billion loan
Note: Deal values only include disclosed completed deals with amounts restricted to local scene i.e. amounts related to the Philippine entity and/or business. Rumored, announced, or planned deals not included. Cross-posted deals are also adjusted to avoid double count.
*USD 1.00 = PHP56.81 as of 10/31/2023
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