MANILA, Philippines - Philippine conglomerate GT Capital Holdings Inc. (GTCAP) has disclosed that its Initial Public Offering (IPO) held on April 20, 2012 was recently cited by International Financing Review–Asia (IFR Asia) as the Philippine Capital Markets Deal of the Year.
IFR Asia is the region’s authoritative capital markets magazine, covering bond, loan, and equity markets. It also provides market-leading analysis of debt restructuring throughout the region.
“For proving that a big listing is possible in a thinly traded market, GT Capital’s P18.8-billion IPO is IFR Asia’s Philippine Capital Markets Deal of the Year. It was comfortably the country’s biggest IPO in the year under review, and only the third biggest on record. Its broad footprint meant that the IPO was positioned as a proxy for the Philippine economy,†IFR Asia said.
Alfred V. Ty, GTCAP vice chairman, together with Carmelo Maria Luza Bautista, GTCAP president, received the award in a ceremony held in Hong Kong on Feb. 20, 2013. Also in attendance were Roberto Juanchito T. Dispo, president of First Metro Investment Corp. (FMIC) and Lauro C. Baja III, managing director and country head of UBS Philippines. FMIC served as sole domestic coordinator, bookrunner, lead manager, and domestic lead underwriter for the IPO, while UBS was the sole global coordinator, sole international bookrunner, and lead manager.
GTCAP is the primary vehicle for the holding and management of the Philippine businesses of the Ty family. The company has market-leading interests in banking, automotive manufacturing and distribution, power generation, property development, and life insurance through its component companies, namely Metropolitan Bank & Trust Co., Toyota Motor Philippines Corp., Global Business Power Corp., Federal Land Inc. and Philippine AXA Life insurance Corp., respectively.