The holding company of the Metro Gaisano chain of department stores, Vicsal Development Corporation (VDC) has entered into the capital market, through the establishment of Vicsal Investment Inc. (Vicsal Investment).
The new company envisions to perform three activities of an investment house, these include; underwriting securities for companies, brokering treasury notes and brokering equities.
Vicsal Investment president Senen L. Matoto said that the company is into helping both private and public corporations raise money via the capital market.
The new subsidiary of the Metro Gaisano group will also provide strategic advisory services for mergers, acquisitions and other types of financial transactions.
“This business move allows VDC to provide additional value-added services to the various clients it is dealing with its conglomerate,” he said.
Just like Banco de Oro, and SM, which also established BDO Capital and Investment Corporation, he added.
Cebu-based Vicsal is engaged in different businesses in various industries like in real estate development, travel agency, retail, stock brokering, banking and other financial services.
Among its companies are Metro Gaisano department store, Wealth Development Bank, Taft Property Development Corp., Grand Holidays Travel and Tour and Prime Asia chain of pawnshops.
There are now six Metro Gaisano stores and supermarkets nationwide. Three of which are located here, in Mandaue City, Ayala Center and Colon St.; one each in Legaspi City, Albay; Lucena, Quezon City and in Taguig, Metro Manila.
The Securities and Exchange Commission approved recently the registration of Vicsal Investment as an investment house with a capitalization of P1 billion, P500 million of which as been subscribed and paid for.
Vicsal Investment is now in the process of completing the requirements of the Philippine Stock Exchange for it to participate in the stock market, Matoto said.
He added that the company has acquired the right to participate of an online stock trading company
Vicsal Investment is also already in initial talks with prospective clients.
Matoto, together with chairman Frank Gaisano, Jack Gaisano, Margaret Gaisano-Ang, Edward Gaisano and former Energy Secretary Delfin Lazaro are the listed directors of Vicsal Investment. – Ehda M. Dagooc