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HARBOUR
Centre Port Terminal Inc. is raising as much as P3
billion from a planned domestic public offering in the
second half of 2008.
In a chance interview at the sidelines
of the 1st PSE Awards late Tuesday, chief executive
Michael L. Romero told reporters that proceeds from the
IPO will fund expansion locally and abroad.
The company is scouting for two ports in
Asia as part of is expansion plans and recently
participated in the prebidding of a port in Cagayan de
Oro.
“We don’t know yet the number of shares
that we will be selling. We are still studying that but
we expect… [the IPO] this year,” he said.
Harbour Centre is commissioning BDO
Capital and Investment Corp. as lead underwriter for the
share sale.
The company—largely owned by businessman
and RII Builders founder Regis Romero—runs the
15-hectare multipurpose port terminal inside the port
city complex Manila Harbour Centre that is strategically
located within Manila’s port district.
Harbour Centre, in partnership with
Metro Pacific Investments Corp., also made a bid for the
operation of the Manila North Harbor but a pending court
case has delayed the bidding process.
To be auctioned off are the port’s
container terminal, general cargo terminal and the
passenger terminal complex, which would be lumped into,
and considered as one operational area. Based on earlier
estimates by the Philippine Ports Authority, upgrading
the North Harbor to world-class standards requires at
least P10 billion.
The port agency may seek concession fees
of P200 million a year for the 25-year life of the
contract, which will be renewable for another 25 years. |
