Philippine stocks: Gainers, losers, market-moving news – December 2021

Shakey’s Pizza Asia Ventures Inc. on Friday, December 24, announced it is acquiring leading food kiosk brand Potato Corner. Shakey’s, owned by the Po family, will purchase assets and intellectual property relating to the Potato Corner business. 

The acquisition will also involve owning and operating all Potato Corner stores, as well as serving as brand owner and franchisor of stores being operated by franchisees both domestically and internationally.

Potato Corner was established in 1992 and currently has over 1,000 outlets.

Read the full story here.

The Po family has acquired the Tung family’s legacy Ligo Sardines for an undisclosed amount, further solidifying their hold in the canned marine products space.

Century Pacific Food Inc. (CNPF) told the stock exchange on Friday, December 24, that the deal included purchasing the assets and intellectual property related to the manufacturing of Ligo’s product lineup.

Ligo is among the Philippines’ most popular sardine brands and has been around for over 60 years.

Read the full story here.

Ayala-led Bank of the Philippine Islands (BPI) announced that effective January 1, 2022, the merger with BPI Family Savings Bank (BFSB), its wholly owned thrift bank subsidiary, officially takes effect, with BPI as the surviving entity.

As One BPI, current BFSB customers will have access to the full suite of BPI’s products and services through its digital and physical channels. 

Post-merger activities will start on the 1st quarter of 2022 and are targeted for completion by the end of 2022.

SL Agritech Corporation (SLAC) on Wednesday, December 22, listed its P1.9-billion short-term commercial papers at the Philippine Dealing and Exchange Corporation (PDEx).

“With the easing of lockdown restrictions, SLAC will start to revive its expansion program for its international operation,” said SLAC chief executive officer Henry Lim Bon Liong.

SLAC, the country’s largest hybrid rice seeds producer, pushed total debt issuance at the bond bourse to P210.5 billion, still lower than the P388 billion debt raised through PDEx in 2020.