Communication firm files application for IPO

Manila Bulletin
Business Bulletin
Tuesday, April 1, 2003
By ANA MARIE MACUJA

Transpacific Broadcast Group International, Inc. (TBGI), the technology arm of listed firm ATN Holdings Inc., has filed a registration statement with the Philippine Stock Exchange (PSE) for an initial public offering of 69.68 million new shares with a par value of P 1 per share. The offer price was placed between P 1.18 to P 1.48 per share.

The company further disclosed its expected net proceeds from the offer should be between P 70.5 million to P 90.5 million which will be mainly used for equipment acquisition, marketing promotions, and working capital requirements.

The equipment put chase allows the expansion of TBGI satellite up link business, media broadcasting, broad internet services, and installation of point multi point infrastructure.

The company operates a satellite earth station for commercial telecommunication and television broadcasting operations and is a duly registered Clark Special Economic Zone (CSEZ) enterprise.

The company also has a provisional authority to procure, install, operate and maintain International Exchange Service Nodes in Metro Manila and other areas and to offer Value Added Services and charge rates.

TBGI also has the authority to offer services for web page hosting, electronic mail, rile protocol, remote log in, Internet fax and electronic commerce.

The company disclosed among its long term goals include providing nationwide internet connectivity particularly in remote and unreserved rural areas.

TBGI expects to establish connectivity of 1,5000 schools and 500 hospitals in five years. It expects to substantially increase internet usage which in 2001 registered only two million Filipino, a very low market penetration compared to usage in other Asian countries.

Our corporate mission Is to provide internet connectivity of rural communities throughout the country to enhance the delivery of education, healthcare and livelihood programs whether of governmentor other concerned institutions," Arsenio T. Ng, TBGI chairman said.

While TBGI considers a diversity of sectors as its primary target markets, its initial marketing effort and equipment rollout will be focused in schools and hospitals particularly in the rural areas.

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