Alliance Global Group Inc. (AGI), the parent company of Newport World Resorts, is preparing to accelerate the expansion of its integrated resort assets after successfully listing 2.2 billion warrants on the Philippine Stock Exchange. The offering generated PHP 1.1bn in gross proceeds, according to reports.
The warrants, listed under the ticker AGIW, began trading on December 19 and immediately surged 100% to PHP 1.00 apiece. By December 22, the price climbed further to PHP 1.10, making it one of the strongest performers on the board.
PSE President and CEO Ramon Monzon said the response reflects investor confidence in AGI's growth trajectory and the likelihood that the company's stock price will surpass the PHP 12 exercise price within the five-year exercise window. Should this occur, AGI could raise an additional PHP 26.71bn in capital, a development Monzon described as a "win-win" for the company and its shareholders.
AGI President and CEO Kevin Tan said the offering highlights the group's long-term vision as well as the resilience of the Philippine capital markets. He added that the new capital will strengthen the company's expansion pipeline, particularly within its gaming and hospitality portfolio.
Tan said a substantial portion of funds will support AGI's investments through Newport World Resorts while also advancing major integrated resort developments in Westside City, Mactan Newtown in Lapu-Lapu City and Boracay Newcoast. Planned upgrades to existing Newport facilities are also part of the expansion roadmap.
AGI has been a consistent capital-raising participant at the PSE since 1999 through stock rights offerings, follow-on offerings and private placements. Monzon said the company has previously raised PHP 31.22bn through these activities, underscoring its track record in capital market engagement.
Tan said the latest listing strengthens AGI's ability to "grow and lead with purpose" as it pursues developments aimed at boosting tourism, entertainment and economic activity across key regions.
AGIW closed at PHP 1.10 on December 22, rising 10% from its debut
