MANILA, Philippines - The initial public offering (IPO) of Century Pacific Food, Inc. was named the Philippines’ 2014 Deal of the Year at The Asset’s Triple A Awards.
CPFI, the company behind household brands Century Tuna, Argentina Corned Beef, 555 Sardines, Angel, and Birch Tree, debuted on the local stock market last May 6 under the trading symbol CNPF.
It raised P3.2 billion in fresh capital from the sale of 230 million shares at P13.75 apiece. The IPO was oversubscribed by 3.5 times the base offering.
“It was a great honor and pleasure to advise and assist Century Pacific on its IPO. It is gratifying to see its success being recognized by the prestigious Asset Magazine as one of its deals of the year,” said Stephen CuUnjieng, chairman of Evercore Asia which acted as exclusive financial adviser to Century Pacific.
BDO Capital, BPI Capital, and First Metro Investment Corporation served as joint lead underwriters for the transaction.
Ahead of the listing date, Singapore’s sovereign wealth fund, GIC Private Ltd, also extended to the parent company, Century Canning Corporation, a Php3.4 billion loan convertible into 250 million issued and outstanding shares of CNPF.
GIC is among the world’s largest fund management companies with Assets under Management of well over $100 billion.
The Triple A Awards are Asia’s defining recognition for excellence in the finance industry. The reputation has been built upon the stringent methodology, combined with the rigorous approach in the selection of winners.