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News and Events

Share Prices of NOW Corp and Chelsea Logistics Mirror Vagaries of 3rd Telco Race

Not just the bidders but thousands of market investors also won and lost in the selection process

Dennis Uy, a Davao-based business tycoon and one of President Rodrigo Duterte’s biggest campaign contributors in the 2016 elections, is one step closer to becoming the operator of the country’s third major telecommunications company.Mislatel Consortium, which is composed of Uy’s Udenna Corp. ...

by Pauline Macaraeg  | November 07, 2018 06:00:00
News and Events

UPDATED: Group of Dennis Uy and China Telecom Named PH's 3rd Telco

The company's second package of bid documents is now under evaluation

Updated: Mislatel, the newly formed consortium of Davao-based businessman Dennis Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., and China Telecom, has been provisionally named as the new major telecommunications player on Wednesday, November 7.The consortium garnered 456.8 points for its ...

by Elyssa Christine Lopez  | November 07, 2018 04:00:00
News and Events

3rd Telco Race Down to Groups Led by Davao's Dennis Uy, Ilocos' Chavit Singson and PT&T

Most of the 10 companies who bought bid documents for Php1 million stayed away because of tough rules

UPDATE: Mislatel, the newly formed consortium of Davao-based businessman Dennis Uy’s Udenna Corp., its subsidiary Chelsea Logistics Holdings Corp., and China Telecom, has been provisionally named as the new major telecommunications player on Wednesday, November 7. Read the full story here.Only three groups of ...

by Elyssa Christine Lopez  | November 07, 2018 12:00:00
News and Events

From Gas Stations to Shipping to Casino Resorts: The Unstoppable Rise of Dennis Uy

At just 43, the Davao entrepreneur known for his close ties to the president has built a business empire worth billions

Starting with oil retail, Davao native Dennis Uy has since built up his business empire to include a logistics company, convenience store chain, hospitality management school and gamingWhen the local oil industry was deregulated in 1998, it paved the way for smaller ...

by Paul John Caña  | May 18, 2018 09:00:00
News and Events

How Much Money You Would Have Made (or Lost) if You Bought IPO Stocks in 2017

A look back at the market performance of four companies that listed at the PSE this year

In 2017, four companies launched initial public offerings (IPOs) and listed on the Philippine Stock Exchange (PSE). While this puts it at par with the previous two years, which also saw four IPOs each, this is lower than the target of six ...

by Lorenzo Kyle Subido  | January 03, 2018 09:00:00
News and Events

Financial Adviser: 5 Things You Should Know About the Chelsea Logistics IPO

Dennis Uy's logistics company will make its debut in the stock exchange this month

 Leading shipping provider Chelsea Logistics Holdings Corp (CLC) is gearing up for its Initial Public Offering (IPO) this month. The company is raising Php5.8 billion by selling 546 million new shares to the public, equivalent to 30 percent of its expanded equity, ...

by Henry Ong  | August 01, 2017 02:00:00
News and Events

Chelsea Logistics Cuts Final IPO Price By More Than a Quarter to Php10.68

Sole underwriter says move aimed at ensuring upside for buyers of the shares

Chelsea Logistics Holdings Corp. (CLC) has set a final price of Php10.68 per share for the initial public offering of shares in the shipping company owned by Davao-based entrepreneur Dennis Uy, according to news reports quoting the offering’s sole underwriter, BDO Capital ...

by Entrepreneur Staff  | July 20, 2017 11:00:00
News and Events

Fast-Rising Davao Tycoon Dennis Uy Launches IPO for Logistics Firm

Duterte campaign donor emerges as major player in domestic cargo handling industry

UPDATED: Chelsea Logistics Cuts Final IPO Price By More than a Quarter to Php10.68Davao-based entrepreneur Dennis Uy’s Chelsea Logistics Corp. (CLC) has priced its initial public offering (IPO) at Php14.63 per share as it seeks to raise Php8 billion through the sale ...

by Elyssa Christine Lopez  | July 20, 2017 01:00:00
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