HKG:0142

PLDT Unit Proposes Phillipines IPO

PLDT's (PSE:TEL) indirect unit VITRO is proposing an initial public offering and listing in the Philippines to raise gross proceeds of up to 24.2 billion pesos, according to a Monday filing by First Pacific (HKG:0142) with the Hong Kong bourse.VITRO, which is currently undergoing a name change to VITRO REIT subject to the relevant approvals, has filed a registration statement and Real Estate Investment Trust (REIT) plan with the country's Securities and Exchange Commission.ePLDT plans to offer up to 1.91 billion secondary common shares of VITRO REIT, with an over-allotment option of up to 287 million secondary common shares at an offer price of a maximum of 11 pesos per share. Proceeds will be used to repay debt.The shares will represent around 48.95% of VITRO REIT's issued and outstanding capital stock following completion.VITRO is owned by ePLDT, a unit of PLDT, which is a major operating associate of First Pacific.

PLDT's Q1 Net Income Edges Lower Despite Revenue Growth

PLDT (PSE:TEL) posted a slight decline in net income attributable to equity holders of 8.87 billion pesos for the first quarter, down from 9.03 billion pesos a year earlier, according to a Thursday Hong Kong bourse filing by parent First Pacific (HKG:0142).Earnings per share at the Philippine telecommunications company came in at 40.98 pesos, compared with 41.71 pesos a year earlier.Revenue increased to 56.5 billion pesos from 55.3 billion pesos in the prior-year period.

Metro Pacific Investments' Core Income Rises 5% in Q1 2026

Metro Pacific Investments (PSE:MPI) posted consolidated core net income of 6.9 billion pesos for the first quarter of 2026, up 5% from 6.6 billion pesos a year earlier, according to a Hong Kong bourse filing Wednesday by First Pacific (HKG:0142).The company's power business under Meralco posted 11.4 billion pesos in consolidated core net income, up 2%.The water business under Maynilad posted 4 billion pesos in core net income, up 10%.Meanwhile, the toll business under Metro Pacific Tollways posted flat core net income year on year, the firm said.First Pacific owns 49.9% of Metro Pacific.

First Pacific's Profit Rises in 2025

First Pacific (HKG:0142) recorded a rise in attributable profit in 2025 to $661 million from $600.3 million a year prior, according to the firm's annual report filed with the Hong Kong bourse Tuesday.Earnings per share stood at $0.1549 in the year, up from $0.1414 in 2024.The conglomerate's turnover jumped to $10.2 billion from $10.1 billion in the year-ago period.The firm declared a final cash dividend of 46 pesos for the year, payable April 16 to shareholders of record on March 26.

Huatai Research Starts First Pacific Company at Buy with HK$6.74 Price Target