Data from the Philippine Stock Exchange revealed that Hong Kong-based Victory Fund Ltd. has invested P128 million to acquire 13 percent of fish company Alliance Tuna International Inc. As per the data the shares of Alliance Tuna were sold Jan. 6 through a block sale of 100 million shares at P1.60 each. Of that volume, 80 million shares, or 13 percent, were sold to Victory Fund by a number of local investors. Ownership of the remaining 20 million shares could not be traced as of late Wednesday.
Alliance Tuna president Jonathan Dee commented that Victory Fund believe in their strategy of embracing globalization, their global sales and new products and acquisitions to leverage on their already formidable market coverage. He also said that the new investor found Alliance Tuna’s five-year compounded annual growth of 26 percent to be very steady and expected it to move up to 30 percent this year.
This buyout has pushed the shares of Alliance Tuna which closed Wednesday at P1.60, from P1.58 Tuesday. It is told that Alliance Tuna has invested huge amount in acquiring Prime Foods New Zealand, which is its second acquisition in less than six months after assets of a tuna cannery in Indonesia.
