Investing Stocks in Philippines: American International Group

Showing posts with label American International Group. Show all posts

Sunday, January 6, 2013

Stock News 2013: Villar Property to Sell Treasury Shares

Finance - Financial injection - Finance (Photo credit: @Doug88888)

The board of property developer Vista Land & Lifescapes, Inc. has cleared the sale of all the company’s treasury shares to take advantage of perceived strong investor demand and in a bid to boost liquidity, the Villar-led firm said in a disclosure yesterday.

“On Jan. 3, the board of directors of Vista Land authorized the company to sell all of its existing treasury shares totaling 133.91 million shares to meet demand from investors and increase liquidity of the company’s shares of stock,” the disclosure read.

Vista Land’s management team was tasked to determine the terms and conditions of the planned share sale.

“The board likewise authorized the implementation of all necessary corporate and other actions to proceed with the sale of the aforementioned treasury shares, and further authorized and empowered management to determine and decide on the price at which the treasury shares shall be sold,” the disclosure added.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are not considered outstanding, are non-voting and are not included in dividend issuances.

http://www.bworldonline.com/content.php?section=Corporate&title=Villar-property-company-to-sell-all-treasury-shares&id=63741

Saturday, January 5, 2013

Stock News 2013: Vista Land releases more shares into the market

English: A Benchmark For Stocks and Shares. A bench and the stocks, which two felons could share, on Sheriff Hutton village green (Photo credit: Wikipedia)

Property Developer Vista Land & Lifescapes, Inc. boosted the number of stocks for trading after selling all of its treasury shares for roughly P636.07 million, the Villar-led company said in a disclosure on Friday.

The transaction involved a total of 133.91 million shares sold at P4.75 apiece.

The sale increased the company’s outstanding and common shares to 8,538,740,614 from 8,404,830,614.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are non-voting, non-outstanding, and not included in dividend issuances.

A Vista Land officer said on Thursday that the company decided to sell all its treasury shares to take advantage of perceived big demand and to boost its liquidity.

http://www.bworldonline.com/content.php?section=Corporate&title=Vista-Land-releases-more-shares-into-the-market&id=63768

Monday, August 23, 2010

International News 2010: AIG Moves Closer To Independence

Image via WikipediaNEW YORK (TheStreet) -- With the repayment of $4 billion in taxpayer funds, American International Group (AIG) has moved closer to financial independence and prepared a viable subsidiary for an eventual spin-off.
AIG said on Monday that its International Lease Finance Corporation (ILFC) subsidiary had restructured its debt by issuing $4.4 billion in private notes. ILFC used the proceeds to repay outstanding debt to the Federal Reserve, which it had secured through AIG's funding facility.
In doing so, the Los Angeles-based aircraft leasing business was also able to recoup $10 billion in collateral that the Fed had been holding against possible repayment issues. The new debt is structured into four smaller parcels - both secured and unsecured - that are due in later years, giving the business more flexibility as it moves forward.
It's widely known that AIG plans to divest ILFC. When AIG announced its restructuring plans after the federal bailout in the fall of 2008, ILFC was cited by analysts and industry players as a "crown jewel" among the businesses it could sell. However, the insurance giant had issues in finding interested suitors because of ILFC's debt obligations. Murmurs about former ILFC CEO Steven Udvar-Házy buying the business went silent when the longtime leader departed to start up a competing business, Air Lease Corp.
Over the past several months, the business has become a turnaround story once again - installing a new CEO, building up new and future orders and boosting liquidity by $12.5 billion.
"This capital raise, combined with the capital raises earlier this year, demonstrates that ILFC is getting stronger with each passing day," AIG CEO Robert Benmosche said in a statement, adding that "ILFC has made substantial and impressive progress in dealing with its liquidity needs."
The deal represents AIG's single biggest repayment of bailout funds so far, as it awaits progress on larger transactions. AIG plans to sell a life-insurance subsidiary to MetLife (MET) later this year, and is hashing out plans to offer an Asian life-insurance subsidiary to the market in an IPO. Those two deals stand to cut AIG's federal tab further, by roughly $50 billion.
As for ILFC's prospects, new CEO Henri Courpron said the firm has $13 billion in orders, adding that the market's appetite for ILFC debt is "a direct reflection of our company's viability and future prospects."
ILFC remains one of the biggest, if not the biggest, airline-leasing businesses in the world. Among its top competitors are subsidiaries owned by General Electric (GE), CIT Group (CIT), RBS (RBS), Boeing (BA), BAE (BAESY) and an assortment of private players.
http://www.thestreet.com/story/10842451/1/aig-moves-closer-to-independence.html