highyield investing

Group sees no need for IPO

DESPITE the many businesses it has ventured in, ranging from the hotel and banking industries, the Metrobank Group of Companies is not yet keen to enter into an Initial Public Offering (IPO).

Right now, its too early to tell, said Alfred Ty, Federal Land Inc. (FLI) president.

FLI is the real estate arm of the Metrobank group, which developed among others, the Marco Polo Plaza Hotel in Cebu.

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Unlike business tycoons like the Ayala group, SM group and the Aboitiz group to name a few, who have ventured into an IPO for a bigger capital infusion, Ty said the company has yet to further study the local and foreign investing communities before it enlists in the stock market.

Earlier, Aboitiz Power Corp., a wholly owned holding company for the electricity interests of Aboitiz Equity Ventures (AEV) Inc., said it is now planning for a second IPO as the company is set to hold an international road show and drum up investor interest.