May 30, 2017, 9:07 pm
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1 Philippine Peso = 0.07364 UAE Dirham
1 Philippine Peso = 2.41007 Albanian Lek
1 Philippine Peso = 0.03564 Neth Antilles Guilder
1 Philippine Peso = 0.31981 Argentine Peso
1 Philippine Peso = 0.027 Australian Dollar
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1 Philippine Peso = 0.0401 Barbados Dollar
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1 Philippine Peso = 0.02005 Bermuda Dollar
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1 Philippine Peso = 0.13836 Bolivian Boliviano
1 Philippine Peso = 0.06529 Brazilian Real
1 Philippine Peso = 0.02005 Bahamian Dollar
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1 Philippine Peso = 0.02005 Cuban Peso
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1 Philippine Peso = 0.01801 Euro
1 Philippine Peso = 0.04182 Fiji Dollar
1 Philippine Peso = 0.01561 Falkland Islands Pound
1 Philippine Peso = 0.01565 British Pound
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1 Philippine Peso = 0.90034 Gambian Dalasi
1 Philippine Peso = 181.17105 Guinea Franc
1 Philippine Peso = 0.14734 Guatemala Quetzal
1 Philippine Peso = 4.06477 Guyana Dollar
1 Philippine Peso = 0.15626 Hong Kong Dollar
1 Philippine Peso = 0.47034 Honduras Lempira
1 Philippine Peso = 0.13286 Croatian Kuna
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1 Philippine Peso = 5.54381 Hungarian Forint
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1 Philippine Peso = 0.07139 Israeli Shekel
1 Philippine Peso = 1.29406 Indian Rupee
1 Philippine Peso = 23.68157 Iraqi Dinar
1 Philippine Peso = 650.67176 Iran Rial
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1 Philippine Peso = 2.59535 Jamaican Dollar
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1 Philippine Peso = 18.04692 North Korean Won
1 Philippine Peso = 22.52055 Korean Won
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1 Philippine Peso = 6.22579 Kazakhstan Tenge
1 Philippine Peso = 164.42751 Lao Kip
1 Philippine Peso = 30.1925 Lebanese Pound
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1 Philippine Peso = 1.8448 Liberian Dollar
1 Philippine Peso = 0.25807 Lesotho Loti
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1 Philippine Peso = 0.01244 Latvian Lat
1 Philippine Peso = 0.02794 Libyan Dinar
1 Philippine Peso = 0.19633 Moroccan Dirham
1 Philippine Peso = 0.36344 Moldovan Leu
1 Philippine Peso = 1.10347 Macedonian Denar
1 Philippine Peso = 27.33106 Myanmar Kyat
1 Philippine Peso = 48.04492 Mongolian Tugrik
1 Philippine Peso = 0.16094 Macau Pataca
1 Philippine Peso = 7.17866 Mauritania Ougulya
1 Philippine Peso = 0.6938 Mauritius Rupee
1 Philippine Peso = 0.308 Maldives Rufiyaa
1 Philippine Peso = 14.38981 Malawi Kwacha
1 Philippine Peso = 0.37146 Mexican Peso
1 Philippine Peso = 0.08585 Malaysian Ringgit
1 Philippine Peso = 0.26102 Namibian Dollar
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1 Philippine Peso = 0.59984 Nicaragua Cordoba
1 Philippine Peso = 0.16929 Norwegian Krone
1 Philippine Peso = 2.06136 Nepalese Rupee
1 Philippine Peso = 0.02844 New Zealand Dollar
1 Philippine Peso = 0.00772 Omani Rial
1 Philippine Peso = 0.02005 Panama Balboa
1 Philippine Peso = 0.06582 Peruvian Nuevo Sol
1 Philippine Peso = 0.06346 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.09846 Pakistani Rupee
1 Philippine Peso = 0.07534 Polish Zloty
1 Philippine Peso = 112.05735 Paraguayan Guarani
1 Philippine Peso = 0.07301 Qatar Rial
1 Philippine Peso = 0.08223 Romanian New Leu
1 Philippine Peso = 1.13242 Russian Rouble
1 Philippine Peso = 16.43433 Rwanda Franc
1 Philippine Peso = 0.07519 Saudi Arabian Riyal
1 Philippine Peso = 0.15815 Solomon Islands Dollar
1 Philippine Peso = 0.2679 Seychelles Rupee
1 Philippine Peso = 0.13354 Sudanese Pound
1 Philippine Peso = 0.17503 Swedish Krona
1 Philippine Peso = 0.02781 Singapore Dollar
1 Philippine Peso = 0.01561 St Helena Pound
1 Philippine Peso = 0.44528 Slovak Koruna
1 Philippine Peso = 150.39102 Sierra Leone Leone
1 Philippine Peso = 10.96852 Somali Shilling
1 Philippine Peso = 441.47785 Sao Tome Dobra
1 Philippine Peso = 0.1749 El Salvador Colon
1 Philippine Peso = 10.32645 Syrian Pound
1 Philippine Peso = 0.26048 Swaziland Lilageni
1 Philippine Peso = 0.68398 Thai Baht
1 Philippine Peso = 0.04812 Tunisian Dinar
1 Philippine Peso = 0.04614 Tongan paʻanga
1 Philippine Peso = 0.07172 Turkish Lira
1 Philippine Peso = 0.13474 Trinidad Tobago Dollar
1 Philippine Peso = 0.60567 Taiwan Dollar
1 Philippine Peso = 44.71626 Tanzanian Shilling
1 Philippine Peso = 0.52777 Ukraine Hryvnia
1 Philippine Peso = 72.08743 Ugandan Shilling
1 Philippine Peso = 0.02005 United States Dollar
1 Philippine Peso = 0.56748 Uruguayan New Peso
1 Philippine Peso = 76.19812 Uzbekistan Sum
1 Philippine Peso = 0.20001 Venezuelan Bolivar
1 Philippine Peso = 455.96552 Vietnam Dong
1 Philippine Peso = 2.1526 Vanuatu Vatu
1 Philippine Peso = 0.05162 Samoa Tala
1 Philippine Peso = 11.80971 CFA Franc (BEAC)
1 Philippine Peso = 0.05414 East Caribbean Dollar
1 Philippine Peso = 11.85342 CFA Franc (BCEAO)
1 Philippine Peso = 2.13836 Pacific Franc
1 Philippine Peso = 5.01103 Yemen Riyal
1 Philippine Peso = 0.26116 South African Rand
1 Philippine Peso = 104.06056 Zambian Kwacha
1 Philippine Peso = 7.25687 Zimbabwe dollar

SEC OKs realtor’s IPO

The Securities and Exchange Commission has approved the P3.33 billion initial public offering plans of realtor Cebu Landmasters Inc., (CLI). 

CLI is offering to sell 508 million common shares  at an offer price of up to P6.56 per share. 

“This represents up to 34 percent of the company’s outstanding common shares, post-IPO,” the company earlier said.

“Of the firm shares, 430 million are new shares forming the primary tranche, while 75 million are existing shares forming the secondary tranche. The 75 million shares from the greenshoe will be from existing shareholders,” it added.

Part of the proceeds will also be used for debt repayment and working capital requirements.

BDO Capital serves as the sole issue manager  while it will be joined by BPI Capital as joint lead underwriters and joint bookrunners.

CLI is the first Cebu-based real estate developer to apply for an IPO and the leading local real estate developer in the Metro Cebu residential condominium arena. It accounts for 11 per cent market share of the total supply of residential condominium units in Metro Cebu, second only to Ayala Land, according to a market study by CBRE Philippines (now Santos Knight Frank).

CLI earlier said it has committed to spend P12 billion in the next two years to grow its business, funding developments in the residential, commercial, and hotel ventures in Visayas and Mindanao. 

“Majority of the project will consist of over 7,000 economic housing units ranging from P800,000 to P1.7 million in the provinces of Dumaguete, Cebu, and Bohol, and in the cities of Iloilo and Bacolod. The firm will also launch mid-end units ranging from P1.8 million to P5 million in Metro Cebu, Cagayan de Oro, and Davao City; premier residential units about P5 million in Cebu City; two-mixed use communities in Davao City; and two hotel projects in Metro Cebu,” said Jose Soberano III, CLI president.

Francis Soberano, CLI chief operating officer, said the company is setting its sights on the VisMin region where it has the capacity to win. 

“Where there is high demand for value and quality developments, and where there are still opportunities for growth,” said Soberano. 

It currently has a landbank of 630,824 square meters. 

Soberano said the company closed 2016 with profits of P702 million over revenues of P2.18 billion, out of constructing mostly economic housing and mid-end projects in Cebu including two of the fastest selling residential condominiums in Cebu as related by a CB Richard Ellis study. 

The company remains optimistic of its prospects in the property sector amid a continuously growing economy. 

The past six years saw, the mostly affordable Cebu-based housing developer CLI diversify its portfolio to include high-end residential and office developments in Cebu’s key central business districts like the Cebu IT Park. 

The company is currently constructing a mixed-use development in Cebu City that will be anchored by a 180-room Citadines Cebu City, a hotel that will be managed by Ascott Limited. It is set for completion by 2019.
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