Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»Philippine Billionaire Sy Family’s SM Investments Sets $1 Billion Record Stock Buyback
    Investments

    Philippine Billionaire Sy Family’s SM Investments Sets $1 Billion Record Stock Buyback

    February 28, 20253 Mins Read


    SM’s Mall of Asia along Manila Bay is the largest shop[ping complex in the Philippines.

    Courtesy of SM Prime

    SM Investments—the holding company of the family of the late retail billionaire Henry Sy Sr—will spend 60 billion pesos ($1 billion) to buy back its shares, which are trading at a two-year low.

    The open-ended buyback is the biggest ever for a Philippine company and the first for the Manila-based conglomerate, which posted a 7% increase in net profit last year to 82.6 billion pesos.

    “We believe in the upside of the market and our economy,” Teresita Sy-Coson, vice chairman of SM Investments told Forbes Asia via text message. “The growth can be sustained.”

    With shares of SM Investments down 15% this year, Franklin Gomez, executive vice president of SM Invesments, said the stock is undervalued. Its trading at about 11 times price-to-earnings ratio currently, compared with 36 times back in 2017, he noted.

    Gomez said the company has sufficient cash to bankroll expansion plans and fund the buyback. It raised $500 million in bonds in 2024, while unit SM Prime has earmarked 100 billion this year to expand its property footprint across the Philippines.

    “We see the potential of the Philippines for a very long term so the way we appreciate SM Investments’ value is on a much longer time horizon compared with other investors with a much shorter time horizon,” Gomez said at a media briefing on Friday.

    SM Investments’ buyback comes at a challenging time with the property sector seeing softening demand with developers sitting on thousands of unsold condominiums units in Metro Manila.

    “The Sy family is putting up the largest buyback in Philippine corporate history,” said John Gatmaytan, chairman at Luna Securities and who has been trading stocks for four decades. “They must be seeing something that the public is missing.”

    SM Investments also has interests in banking, geothermal energy, logistics, retail, and shipping. The group traces its roots to Henry Sy Sr., who sold overrun shoes in 1958 at a store in Manila he aptly called Shoemart and built his first shopping mall amid political turbulence in the early 1980s. Following Sy’s death in 2019, his six children—Teresita, Elizabeth, Henry Jr, Hans, Herbert and Harley—inherited his fortune. The family is the richest in the Philippines with a net worth of $13 billion.

    “This is a family that made its fortune by betting during the worst of times for the Philippines,” Gatmaytan said. “SM Investments wouldn’t have grown this big if they didn’t know how to ride the business cycle.”



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    UFC icon Dustin Poirier confirms new career post-retirement

    Investments

    Why finding the right property manager is a must

    Investments

    Should UK-based clients still own US government bonds? 

    Investments

    Andhra Pradesh Aims For $150 Billion in Investments With Launch Of Electronics Policy 4.0

    Investments

    Tube Investments Q1 Results: Higher expenses weigh on margin despite strong revenue growth

    Investments

    Long-dated euro zone bonds sell off; Trump slaps on tariffs

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Investments

    INDIA BONDS – Les rendements obligataires indiens restent stables ; une tendance à la baisse devrait prévaloir à moyen terme

    Cryptocurrency

    Early Experiments In Digital Cash

    Commodities

    Aelea Commodities IPO: Aelea Commodities IPO: Issue size, price band, GMP among 10 things to know

    Editors Picks

    Queensland’s unlikely top investors ranked by occupation

    October 18, 2024

    Top Wall Street analysts pick these dividend stocks for 2025 – CNBC

    January 5, 2025

    le premier parc éolien en Nord-Vienne inauguré

    July 9, 2025

    Bajaj Finserv appoints former Kotak fund manager Lakshmi Iyer as group president for investments

    June 10, 2025
    What's Hot

    Dividend & Stock Split: TCS, Tata Motors, Coforge Among Shares To Trade Ex-Date This Week

    May 31, 2025

    Sifan Hassan wins women’s marathon gold, completes astounding Olympic treble

    August 11, 2024

    La Libre Antenne de Max du 10 juin

    June 10, 2025
    Our Picks

    le discret petit business des API premium

    April 2, 2025

    CCCG Real Estate renonce à son droit d’acquérir le projet immobilier Jiageng Science & Arts City

    May 21, 2025

    My brother has fallen victim to the retirement home transfer fee money grab | Property

    August 26, 2024
    Weekly Top

    Why finding the right property manager is a must

    August 1, 2025

    The brilliant new metal bands you need to hear in August 2025

    August 1, 2025

    MTN Uganda shareholders approve Fintech separation to boost digital inclusion

    August 1, 2025
    Editor's Pick

    cet abri métallique design est à moins de 200 € chez Cdiscount

    March 27, 2025

    Kingsview Wealth Management LLC Sells 33,631 Shares of SM Energy (NYSE:SM)

    July 23, 2024

    Metal : Queensrÿche dynamite sur scène ses deux premiers albums

    February 19, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.