CFA Law Offices

CFA Law client, Makati Finance Corporation (MFIN), a publicly listed company is set to offer up to Ninety Six Million shares to the public. In its 18 January 2008 issue, the Business Mirror reported that “the additional share sale would improve its public float or ownership to about 36 percent. Currently, the company has 89.99 million outstanding shares with a market capitalization of P224.99 million.”

“It has approved the indicative price range of 9.88 times to 13.48 times price/earnings (PE) ratio as the basis for pricing the offer shares.

The report said that “the company focused on three main loan products, namely, consumer loans to medical professionals, corporate loan via factoring of receivables, and secured business loans” and “in July 2005, motorcycle financing was introduced to further diversify the company’s loan portfolio and spread the risk from big factoring accounts and unsecured consumer loans.”

The full Business Mirror report may be found here.

The Manila Bulletin also reported in its 8 January 2008 issue, that “MFC entered the motorcycle financing sector in 2005 citing the continuous growth of motorcycle sales in the last six years. After just a year of operations, MFC grew its MC Financing loan portfolio by 119 percent to P28 million in 2006.”

The full Manila Bulletin report may be found here.

Last 8 January 2008, the Philippine Stock Exchange (PSE) honored Makati Finance Corporation (MFC) as it marked its fifth year of being listed with the PSE. In simple ceremonies, PSE President Francis Lim and officers of Makati Finance rang the opening bell for the day’s trading session.

From left: MFC Finance Officer Cynthia Gacayan, MFC Corporate Secretary and CFA Law Managing Partner Henry Co, MFC Director Joel Ferrer, MFC Vice Chairman Juan Carlos del Rosario, MFC President Teresita B. Benitez, MFC Chairman, Dr. Isidro B. Benitez, PSE President Francis Lim and MFC Director Eugenio Reyes.