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The Arthaland [ALCO 0.47, down 1.1%; 301% avgVol] [link] board of directors approved a follow-on offering of up to P3 billion worth of preferred shares at P500/share. The Po Family’s real estate development arm plans to sell at least 4 million shares, with an oversubscription option of up to 2 million shares. No other details were provided, but will presumably be available once ALCO files the necessary paperwork with the SEC.
OceanaGold Philippines [OGP 17.28 pre-IPO] [link] has had its IPO approved by the PSE. The placeholder price is listed at P17.28/share, but the price is scheduled to be updated on April 23. The offer period will run from April 29 through May 6, with the IPO tentatively scheduled for May 13. The company will list under the ticker OGP, with BDO Capital acting as the domestic underwriter and stabilizing agent. The basic terms of the offer remain unchanged from the preliminary prospectus OGP supplied to the SEC back in February: OGP’s parent company is selling 456 million shares (20% of the company) for P17.28/share to raise P7.88 billion. OGP is required to list under the terms of its mining tenure agreement with the government.
Agriculture Secretary Francisco P. Tiu Laurel, Jr. urged young Bicolanos to take advantage of various government initiatives seeking to promote the agro-fishery sector, calling them a “critical” component in the national goal of producing more food and modernizing the farm sector.
As part of the national government’s continuing support to Bicolano farmers, Agriculture Secretary Francisco P. Tiu Laurel, Jr. led the distribution of more than P75.03 million (M) worth of financial aid and farm equipment in Pili, Camarines Sur on Friday.
MANILA, Philippines — Vice President Sara Duterte, Executive Secretary Lucas Bersamin and Agrarian Reform Secretary Conrado Estrella III have been designated as the country’s caretakers while President Marcos is attending a trilateral summit with the US and Japan in Washington this week.
The Department of Agriculture is rolling out several programs to entice more young FilipInos go into agriculture.
The Department of Agriculture (DA) joins the National Commission for Culture and the Arts (NCCA), Department of Tourism (DOT), and Philippine Culinary Heritage Movement in the celebration of the Filipino Food Month (FFM) or Buwan ng Kalutong Pilipino.
Socioeconomic Planning Secretary Arsenio “Arsi” Balisacan, a marathoner, can run long distances, say a 42-kilometer marathon for hours on end. He has done it many times, in the Philippines and beyond.