Wednesday, September 27, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

North Star in talks with strategic investors after shelving IPO plan

Jenniffer B. AustriabyJenniffer B. Austria
October 5, 2022, 8:05 pm
in Business, Corporate
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

Meat retailer North Star Merchants Inc. is in talks with strategic investors for equity investment after the company decided to defer its planned initial public offering, a top executive said Tuesday.

North Star president and chief executive Anthony Ng said the company had received strong interests from local and foreign investors for possible equity investments.

Ng said he was willing to sell between 10 percent and 20 percent of the company to strategic investors that could provide not only cash to finance expansion but also the platform for future growth.

He said despite possible entry of strategic investors, he remained keen on listing North Star in 2023 or when market conditions improved.

North Star will continue to ramp up expansion as it aims for a higher valuation for the IPO, he said.

North Star decided in June to defer its P4.5-billion IPO, after obtaining regulatory approvals because of market volatility.

“It was a very providential move to defer the IPO because of current market conditions. But we remain interested in pushing through with our IPO,” Ng said.

The meat vendor was supposed to offer up to 392 million common shares with an option for another 58 million in over-allotment shares. The IPO shares were priced at up to P10 apiece.

North Star recently inaugurated a new solar energy project in its manufacturing facility in Guiguinto, Bulacan. It will cover the two storage buildings of North Star’s plant, with about 11,176 square meters to drive supply chain cost efficiencies within its operations.

The project will result in a 15-percent reduction its monthly power expenses and 23-percent offset in carbon footprint.

“North Star believes that its initiatives toward sustainable solutions will immensely contribute in continuously providing safe, quality, and affordable meat products to its customers,” the company said.

North Star is the largest end-to-end fresh frozen meat retailer operating in all SM Markets, WalterMart and Alfamart across the Philippines.

Tags: Anthony Ngequity investmentsNorth Star Merchants Inc.
ADVERTISEMENT
Jenniffer B. Austria

Jenniffer B. Austria

Related Posts

Gov’t to miss growth target — economists

byJulito G. Rada
September 27, 2023, 8:10 pm
0
8
Oath-taking

The government will likely miss its 2023 growth target of 6 percent to 7 percent amid global headwinds, economists from...

Read more

CREC signs contract to supply 7.5 MW of solar power to Clark

byAlena Mae S. Flores
September 27, 2023, 8:05 pm
0
8
CREIT confident on P10.1-b IPO

Citicore Renewable Energy Corp. (CREC) said Wednesday it signed a partnership agreement to supply Clark Electric Distribution Corp. (CEDC)’s local...

Read more

Mober plans to expand delivery fleet to over 300 electric vehicles by 2024

byOthel V. Campos
September 27, 2023, 8:00 pm
0
8
Delivery trailblazer is recognized among top startup movers in 2023

Logistics provider Mober is beefing up its delivery fleet with at least 300 electric vehicles by 2024, chief executive Dennis...

Read more

Smart agrees to relocate cables for construction of EDSA’s elevated walkways

byDarwin G. Amojelar
September 27, 2023, 7:55 pm
0
8
Smart agrees to relocate cables for construction of EDSA’s elevated walkways

Smart Communications Inc. signed an agreement with the Department of Transportation in support of the EDSA Greenways Project—an initiative under...

Read more

BPO sector expects 2023 revenues to increase 8.8% to $35.4b

byOthel V. Campos
September 27, 2023, 7:50 pm
0
8
IBPAP names Madrid as president and CEO

The IT-Business Process Management (IT-BPM) sector is expected to post $35.4 billion in revenues this year, up 8.8 percent from...

Read more

NGCP to expedite Batangas-Mindoro link

byAlena Mae S. Flores
September 27, 2023, 7:45 pm
0
8
NGCP warns against thin power supply in next dry months

The National Grid Corp. of the Philippines (NGCP) agreed to fast-track the completion of the Batangas-Mindoro interconnection by 2025 or...

Read more

Print Edition

View More

Recent Posts

  • ‘Amend dated provisions in 1987 Charter’
  • Cebu municipality gets new primary care facility
  • Mandal assures PH of silver in Asiad
  • Dell Technologies delivers Hybrid Cloud Innovation with Dell APEX Cloud Platform for Microsoft Azure
  • MILO® Marathon Iloilo brings together over 20,000 runners in a celebration of community and inclusivity 
  • PH coordinating with Canada over ex-PNP chief’s immigration issues
  • Gilas 3×3 team notches 3rd win in a row 
  • Losing not an option for Filipinas vs Myanmar

Advertisement

Latest News

PH coordinating with Canada over ex-PNP chief’s immigration issues

byRey E. Requejoand1 others
September 27, 2023, 11:00 pm
0
8

The Department of Foreign Affairs is coordinating with the government of Canada after former Philippine National Police chief Gen. Rodolfo...

Read more

Gilas 3×3 team notches 3rd win in a row 

byManila Standard Sports
September 27, 2023, 10:51 pm
0
8
PSC hosts sendoff for 500-plus athletes bound for Hangzhou

HANGZHOU – The Philippine men’s 3x3 team moved on the verge of completing a sweep of its Pool A assignment...

Read more

Losing not an option for Filipinas vs Myanmar

byManila Standard Sports
September 27, 2023, 10:47 pm
0
8
Filipinas climb to no. 44 in FIFA world rankings

The Philippine Women's National Football Team HANGZHOU – The Philippine women’s football team is all geared up against Myanmar in...

Read more

Mandal assures PH of silver in Asiad

byManila Standard Sports
September 27, 2023, 10:39 pm
0
8
Mandal assures PH of silver in Asiad

HANGZHOU, CHINA—Sanda fighter Arnel Mandal assured Team Philippines its first silver medal in the 19th Asian Games by overpowering Kyrgyzstan's...

Read more

Eala rallies to beat Japanese foe, assures PH of bronze

byManila Standard Sports
September 27, 2023, 10:32 pm
0
8

Alex Eala HANGZHOU, China – Alex Eala pulled off one of the biggest comeback wins in tennis history of the...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App