Metro Gaisano mulls revival of IPO plan

MANILA, Philippines - The Cebu-based Metro Gaisano group is considering to revive plans to go public or tap the debt market as it aims to create a bigger business presence.

 Sources said the Metro Gaisano group, which owns and operates a chain of department stores and supermarkets in Visayas and Luzon, is scouting for a financial advisor to help structure its planned fund-raising activity.

 “They haven’t decided yet whether to launch an initial public offering or not. They’re open to other options like debt/bond,” the source said.

 Under Vicsal Development Corp., the Metro Gaisano group operates nine shopping malls and department stores located in Cebu, Legazpi, Lucena, Bonifacio Global City, Pampanga and Alabang.

 Aside from the retailing business, Vicsal has also established presence in financial services, stockbrokerage, and real estate development.

 In 2007, the group ventured into the investment banking business with the incorporation of Vicsal Investment Inc., whose main functions include underwriting securities for companies, brokering treasury notes and brokering equities. It also provides strategic advisory services for mergers, acquisitions and other types of financial transactions.

The group also controls WealthBank, which focuses on the small and medium enterprises through its network of at least 15 branches in major cities of the southern and central parts of the country. The bank is among the top 20 development banks in the country with P3 billion in resources by end-2010.

 The group likewise controls AB Capital & Investment Corp., a leading investment house that used to be controlled by the Phinma Group.

 The group’s realty business, Taft Property Venture Development Corp., has developed premium housing communities in Cebu City and has completed over 500 housing units. Projects include Nichols Park, Hacienda Salinas, Palm Heights and Palmas Verdes. It also constructed a 5-hectare world class I.T. economic zone in Mandaue, the first of its kind in the city.

The group is also into the pawnshop business through Prime Asia Pawn & Jewelry Shop Inc. From the opening of its first branch located in Colon St., Cebu City in 1993, Prime Asia is now recognized as one of the stalwarts in the pawnshop industry with its 100 branches spread all over Visayas and Mindanao.

 Meanwhile, the group’s travel agency, Grand Holidays Travel and Tours, is currently the leading travel agency in the Visayas and Mindanao and the only one outside Metro Manila to be voted into the Top 50 Travel Agents in the Philippines.

The group is also into the trucking business through Cargo Bayan Inc., whose vision is to cater to the growing trucking market of various shippers.

 The Metro Gaisano group is run by siblings Jack, Edward, Frank and Margaret.