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Tiu Takes Over Third PSE-Listed Shell Company

  Shell companies appeared to have their unique seduction in the Philippines.  On 16 December 2021, businessman Antonio L. Tiu disclosed his take over of the publicly listed shell firm Ever-Gotesco Resources and Holdings, Inc. (PSE: EVER), his third shell company acquired since 2008. (Read the full report from Bilyonaryo.com ) Tiu first took over MUSX Corp. (PSE: MUSX), a semiconductor company incorporated in 1992 in 2008, which he renamed later as Greenergy Holdings Inc. (PSE: GREEN), an investment holding company with a portfolio in agriculture (AgriNurture Development Holdings Inc.), agritourism (Winsun Green Ventures Inc.), real estate development (Sunchamp Real Estate Development Corp.), banking and finance, information technology (Lite Speed Technologies Inc. and Ocean Biochemistry Technology Research Inc. [non-operational as of yearend-2020]), and other environmentally friendly investments (Total Waste Management Recovery System Inc. [non-operational as of yearend-2020]...
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Shakey's Pizza Acquires Potato Corner

  Pizza maker and chain restaurant owner Shakey’s Pizza Asia Ventures, Inc. (PSE: PIZZA) disclosed to the Philippine Stock Exchange the acquisition of food kiosk operator Potato Corner, a company that Jose P. Magsaysay, Jr. founded in 1992. (Read the full report from Business World ) Po family’s holding company Century Pacific Group, Inc. owns 50.36% of PIZZA together with venture capitalist Arran Investments Pte. Ltd. (16.81%) and JE Holdings, Inc. (9.05%), as of 13 October 2021. Public investors own 23.57% of PIZZA. (Source: PSE Edge)
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Figaro Coffee Reduced IPO Price to P0.75 Per Share

  A pioneering home-grown player in the Philippine coffee shop industry, Figaro Coffee Group Inc. has reduced its initial public offering to P0.75 per common share from its initial indicative price of P1.28 per share. Its offer period starts on 10 January 2021 and ends on 14 January 2021. Prior to its public listing, Figaro is a wholly-owned subsidiary of Figaro Coffee Systems, Inc., which has at least 28 years of presence in the Philippine industry. (Read the full report in Business Mirror .)
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