SHARES of Alliance Global Group Inc. (AGGI) rose 11.3 percent to P6.40 a piece during Monday’s trading at the stock exchange on the heels of the company’s successful offer of 3.13 billion shares to both domestic and foreign investors.

“We’re extremely happy with the result and the timing is impeccable,” president Kingson Sian told reporters in a press briefing Monday.

International underwriter UBS AG said 100 foreign investors participated in the follow-on offering.

Alliance Global shares opened and closed at P6.40 apiece. The issue compares with an offer price of P5.75. Market pundits are bullish that Alliance Global shares could reach a high of P8 at the end of the year.

Thirty-seven percent of shares sold abroad were in the US, 32 percent in Europe and 31 percent in Asia. These were high-quality accounts backed by fundamental-driven investors. “It was a blowout success,” said UBS country representative Lauro Baja.

Alliance Global generated P17.9 billion from the sale of primary and secondary shares. The company will received P10.3 billion from the shares sale to grow liquor unit Emperador Distillers Inc.

Emperador Distillers will get P7 billion, while P1 billion will fund a new food and beverage product the company plans to launch. “Another P1 billion will be set aside for acquisition of new business in the food and beverage sector,” Sian said.

Alliance global will use the other P1 billion to prepay debt before maturity.

The company has three main businesses, namely food and beverage under Emperador Distillers; real estate via Megaworld Corp.; and quick service restaurant through Golden Arches Development Corp., franchise holder of McDonald’s in the Philippine.

Philippine Stock Exchange chairman Jose C. Vitug said Alliance Global is a returning customer tapping the stock market to raise capital.

Alliance Global first listed in 1999 with a single product as glass manufacturer. “Now, AGGI returns to us as a diversified conglomerate,” Vitug said.

The follow-on offering has widened the equity held by the public in Alliance Global to 46 percent from 11 percent.

SHARES of Alliance Global Group Inc. (AGGI) rose 11.3 percent to P6.40 a piece during Monday’s trading at the stock exchange on the heels of the company’s successful offer of 3.13 billion shares to both domestic and foreign investors.

RP stocks advance to record level

PHILIPPINE stocks rose, pushing the benchmark index to a record for a third day, after the government said Filipinos working abroad sent home more money.

PHILIPPINE Long Distance Telephone Co. (PLDT) said Monday acquiring equity interest in Philcom Corp. will push through if creditor banks are to go for a debt-to-equity deal.

D3 Systems, a local firm engaged in information technology, is tapping into the global market when it presents the “no-cost added” instant messaging platform called the “Bluezone” at the CommunicAsia from June 19 to 22 in Singapore.

PRIMEWORLD Digital Systems Inc., a unit of Internet access provider Pacific Internet Ltd., asked the National Telecommunications Commission to extend its provisional authority to operate and maintain an information and data communications network.

PHILIPPINE National Construction Corp.  (PNCC) closed at P5.80 on May 18, 2007. It even hit a 30-month high of P6.10 on May 9, 2007. Suddenly, PNCC was liquid again until the trading on its shares was suspended by the Philippine Stock Exchange on May 21, 2007 for non-compliance with the bourse’s reportorial requirements partly because of its legal entanglements.