AGI raises P1.1 billion from warrants sale

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December 23, 2025 | 12:00am

MANILA, Philippines — Conglomerate Alliance Global Group Inc. (AGI), led by tycoon Andrew Tan, is further expanding its integrated resort developments after successfully raising P1.1 billion from the sale of warrants.

AGI president and CEO Kevin Tan said the company’s warrants offering is a powerful statement of confidence, not just in the future and the enduring vision of AGI’s businesses, but also in the strength of the Philippine capital markets.

“Through this listing, we are unlocking new opportunities to accelerate expansion and create greater value for our stakeholders. This will help provide us with the flexibility to strengthen our leadership in each of our core businesses,” Tan said during a ceremonial bell ringing for the warrants listing at the Philippine Stock Exchange (PSE) yesterday.

“Specifically, this new milestone will significantly benefit our investments through Newport World Resorts as we continue to redefine leisure and entertainment in the Philippines,” he said.

Tan said the capital raised through the initiative would allow AGI to further expand its integrated resort developments to include Westside City, Mactan Newtown in Lapu-Lapu City and Boracay Newcoast, as well as upgrade its facilities at Newport integrated resorts.

“This listing is about building a future where we can continue to grow and lead with purpose. It reflects our belief that sustainable success comes from continuous innovation, from partnering with the right institutions and growing businesses that uplift communities and contribute to nation building,” he said.

The offer was completed on Dec. 11, wherein a total of 2.2 billion issued and outstanding warrants were sold to individual and institutional/corporate investors.

PSE president and CEO Ramon Monzon welcomed AGI’s successful warrants offering, which he said clearly demonstrates the strong confidence of the company’s shareholders in its growth potential.

“Since its listing in 1999, AGI has actively raised capital at the PSE with two stock rights offerings, one follow-on offering and four private placements, raising a total of P31.22 billion,” Monzon said.