TBGI files statement for IPO
The Manila Times
CORPORATE NEWS
Tuesday / April 1, 2003
TRANSPACIFIC Broadcast Group International, Inc. (TBGI) yesterday filed its registration statement with the Philipp ine Stock Exchange for an initial, public offering of 69.678 million new common shares with a par value of P 1 per share.
The offer price ranges between P 1.18 and P 1.48 per share. Net proceeds from the IPO are estimated to be anywhere, between P 70.5 million and P 90.5 million.
In a statement, TBGl chairman Arsenio T. Ng said the proceeds would used mainly to acquire equipment, to fund marketing promotions and to meet working capital requirements
TBGI started commercial operations of its satellite broadcast in 1996. It has provisional authority to procure, install, operate and maintain international exchange service nodes in Metro Manila and other areas. The company also has the authority to offer services for web page hosting, electronic mail, file protocol, and electronic commerce.
