Disclosures

Disclosure Type Date Download Link to PSE EDGE
PIZZA Disbursement of IPO Proceeds (Annual Report) January 13, 2017 Download View
PIZZA Disbursement of IPO Proceeds (Quarterly Report) January 13, 2017 Download View
[AMENDED-2] PIZZA Shareholdings of Directors and Principal Shareholders January 13, 2017 Download View
PIZZA Initial Statement of Beneficial Ownership of Securities January 13, 2017 Download View
PIZZA Initial Statement of Beneficial Ownership of Securities January 13, 2017 Download View
PIZZA Report on the International Distribution of Stabilization Shares January 9, 2017 Download View
PIZZA Public Ownership Report January 6, 2017 View
PIZZA Top 100 Shareholders January 4, 2017 Download View
PIZZA Disbursement of Proceeds and Progress Report January 4, 2017 Download View
PIZZA Early Stablization Termination December 23, 2016 Download View
PIZZA Notice of Completion of Offering December 20, 2016 Download View
PIZZA Weekly Stabilization Activity Report December 20, 2016 Download View
PIZZA Clarification of News Report December 19, 2016 Download View

News Room

Investors gobble up Shakey’s on debut



SHAKEY’S Pizza Asia Ventures, Inc. emerged among the top picks in Philippine Stock Exchange (PSE) on its market debut yesterday, defying a regional downturn driven by a hawkish US Federal Reserve. The latest addition to the Main Board of the PSE settled at P12.10 apiece -- 84 centavos or 7.46% above the P11.26 listing price -- after investors traded about 49.59 million shares for a total of P601.8 million.

Shakey’s rose 74 centavos or 6.57% to P12 apiece as soon as trading commenced. It stayed above the listing price throughout the session, registering a low of P11.66 and a high of P12.36.

The stock emerged as the second most active and fifth top gainer during the session that witnessed the main index drop 73.03 points or 1.05% to 6,855.31 and the net foreign selling level increase to P1.78 billion.

The closing price translated to a P17.24-billion market capitalization for Shakey’s, which listed on the PSE through an initial public offering (IPO) of 351.9 million common shares priced at P11.26 each for a total of P3.96 billion.

“It was received quite well despite the weakness of regional markets and the PSEi,” Jonathan J. Latuja, a research analyst at Unicapital Securities, Inc., said in a mobile phone message.

“Apparently, investors still believe in the country’s strong consumption spending and expanding middle-income class,” the analyst added, noting that Shakey’s could have traded higher without the Federal Reserve flagging more rate hikes.

The US central bank’s Federal Open Market Committee declared a 25-basis-point increase in key interest rates to 0.5-0.75% on the conclusion of its two-day policy review in Washington on Wednesday.

While investors widely expected the rate hike in the world’s largest economy, sentiment toward emerging markets turned negative on the statement of Federal Reserve Chairperson Janet L. Yellen about further adjustments next year.

Given the generally poor sentiment in the market, Frank Gerard J. Barboza, equity trader at AP Securities, Inc., deemed the debut performance of Shakey’s on the stock exchange “commendable to say the least.”

“Considering today’s market was rather sluggish due to hawkish statements by the Fed after the rate hike, it was still able to close up by 7.46%. If the general market condition was more favorable, investors will more likely buy in to the pizza maker’s story.”

The pricing of the company’s IPO provided room for the upside, Aniceto K. Pangan, equity trader at Diversified Securities, Inc., noted during a phone interview, with the maximum price pegged at P15.58 per share.

“Aside from this, the valuation was lower as compared to other players in the food sector, in general,” Mr. Pangan added, estimating the price-to-earnings ratio of the pizza restaurant operator at 20-21 times.

Shakey’s makes a good investment, Mr. Pangan said, citing its better profit margin relative to other full-service restaurant operators.

The company accounts for the biggest market share in the full-service restaurant sector with only 184 operating stores by yearend, its President Vicente L. Gregorio told reporters after the listing ceremony in Makati City on Thursday.

Shakey’s expects to maintain its market lead by expanding its store network to 250 to 300 branches within the next three to five years. It spends an average of P20 million to open one outlet.

“We have set a goal of 20 stores for next year. We will always be very diligent in site selection, but moving forward after 2017, we did say we will be looking at about 12-15 stores every year after next year,” Mr. Gregorio said.

The company is expanding overseas alongside, following its acquisition of the American pizza brand in other Asian countries, excluding Japan and Malaysia; Middle East; Australia; and New Zealand back in 2014.

Shakey’s recently agreed to bring the brand in Kuwait through a franchising agreement that covers 10 stores scheduled for opening within a seven-year period, Mr. Gregorio said.

“Well, the priority is still the Philippine market and, outside the Philippines, we’re going to be quite discerning and choosy as to who our partners are,” Shakey’s Chairman Christopher T. Po noted during the media briefing that followed the listing ceremonies.

“We want to make sure that we choose the right partner and then they are able to nurture the brand because we don’t want the brand to be harmed by expanding rapidly. So it’s going to be opportunistic.”

SOURCE : http://www.bworldonline.com/content.php?section=Corporate&title=investors-gobble-up-shakey&8217s-on-debut&id=137864


Shakey’s priced at P11.26/share



Pizza parlor chain operator Shakey’s Pizza Asia Ventures Inc. (SPAVI) has priced its initial public offering (IPO) at P11.26 per share, thus finalizing the size of its stock market debut at P3.96 billion.

A “reasonable balance” had been struck at this pricing level, at which the share sale is oversubscribed by three times the base offer due to demand from institutional investors, Stephen CuUnjieng told the Inquirer. CuUnjieng is chair for Asia at Evecore, which acts as SPAVI’s adviser for the sale.

The offer price was slashed from the earlier maximum price of P15.58 per share.

The final pricing will give Spavi a post-IPO market capitalization of P17.24 billion. Spavi is controlled by the Po family, which also leads Century Pacific Food Inc. (CPNF).

“What we wanted to achieve was fair pricing—fair to issuer and fair to buyers. We strove to do that in CPNF and we were fortunate enough to succeed and we’re trying to emulate it again,” CuUnjieng said.

The company will offer 104 primary common shares and 202 million secondary common shares, plus 46 million additional shares in case of excess demand.

Shakey’s is a foreign brand, but when the original owners—the Prieto family—acquired the rights, they arranged they would hold the trademark and the intellectual property.

“They don’t pay licensing fees so the margins are quite good,” CuUnjieng said.

At the same time, CuUnjieng said SPAVI’s management had delivered substantial growth and high revenue per location. Compared to the number of stores and the size of Shakey’s versus competitors, he said there was still space for substantial growth.

“It’s in a good sector that which remains upbeat because of improving economy,” said Manny Cruz, chief strategist at Asiasec Equities Inc. In the first nine months of the year, the economy has expanded by 7 percent year-on-year.

SPAVI’s stock debut coincides with the exodus of foreign funds from the local market and other emerging markets. “But long-term, it should be OK,” Cruz said.

At its current pricing of P11.26 per share, investors will pay around 20 times the earnings they expect to make from each share held in SPAVI in the year ahead. The offering will run from Dec. 2 to 8 while the listing is scheduled for Dec. 15. The company will trade under the ticker “PIZZA.” –Doris Dumlao-Abadilla

SOURCE : https://business.inquirer.net/220457/shakeys-priced-p11-26share#ixzz4RwcIJ0Pl


Shakey’s IPO a go, says PSE



Po Sr.

MANILA, Philippines - It’s all systems go for the stock market debut of pizza chain Shakey’s Philippines after the Philippine Stock Exchange (PSE) approved this week the company’s planned initial public offering (IPO), the final requirement for the listing scheduled on Dec. 15.

“We already approved it,” PSE president Hans Sicat said yesterday.

Earlier, Shakey’s Pizza Asia Ventures Inc (SPAVI), the leading full-service restaurant in the country owned by the Po family, also secured the approval of the Securities and Exchange Commission (SEC), the corporate regulator.

SPAVI seeks to raise up to P5.5 billion from the IPO to be used for debt repayment, capital requirements and strategic acquisitions.

According to the prospectus filed with the SEC, the company will sell up to 352 million primary and secondary shares, including an over allotment of 46 million shares to cater for extra demand.

SPAVI has set a maximum price of P15.58 each with the final price setting date scheduled on Nov. 28.

The offer period will run from Dec. 2 to 8, according to underwriter BDO Capital & Investment Corp.

Filipino-Chinese businessman Ricardo Po Sr., the family patriarch, has said the company is proceeding with the listing on Dec. 15 despite the perceived market volatility.

“We will proceed with the listing as scheduled. The investors are all interested,” Po told The STAR.

SPAVI is majority owned by the Po Family’s Century Pacific Group Inc (CPGI), parent company of Philippine listed Century Pacific Food Inc (CNPF).

Earlier this year, CPGI and GIC, Singapore’s sovereign wealth fund, partnered to acquire majority of the pizza business from the Prieto family, which continues to hold a minority stake in SPAVI.

SPAVI appointed Deutsche Bank AG as sole global coordinator and bookrunner for the deal, with BDO Capital and First Metro Investment Corporation as joint lead managers and underwriters.

Evercore is acting as exclusive financial adviser to SPAVI.

Shakey’s, recognized globally as the original pizza franchise in the US, was first established there in 1954 and is best known “the pizza that started it all.” It first opened in the Philippines in 1975 and is famous for its thin crust pizzas and its chicken and mojos.

Locally, where SPAVI owns the rights to the Shakey’s trademark, the company holds the number one position in the traditional full service pizza chain and family style casual dining categories. It had 177 stores all over the country as of June, with plans to expand in the greater Manila and provincial areas. Seven more stores are expected to open before the end of 2016, with 20 more new stores in the pipeline for 2017.

SOURCE : http://www.philstar.com/business/2016/11/25/1647032/shakeys-ipo-go-says-pse


Shakey’s adds meat-free pizza to local menu



MANILA, Philippines - Shakey’s Pizza Asia Ventures Inc. (SPAVI), the country’s top pizza chain, and British meat substitute producer Quorn Foods (Quorn TM ) have teamed up to bring meat-free pizzas to the local dining industry.

Under the exclusive and limited agreement, SPAVI intends to offer Philippines’ first meat alternative pizzas.

Shakey’s Quorn TM pizzas come in two meat free and soy free pizza variants, providing alternatives to pizza lovers who need to lessen their meat intake.

SPAVI president and chief executive officer Vicente Gregorio said the partnership was in response to customers’ evolving tastes and habits.

“The pizzas maintain the familiar taste and texture of meat with less of the calories that come with it. It’s like having the best of both worlds,” Gregorio said.

He said Shakey’s success has always been anchored on the company’s mission to wow its guests and exceed their expectations.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1 “Product innovation is one great way to do this. We always think of the customers’ evolving needs and eating habits. With Shakeys Quorn TM pizzas, we are catering to the growing number of guests looking for healthier food options that also taste good,” Gregorio said.

Originating from the United Kingdom, Quorn TM is a range of meat-free protein products using Mycoprotein TM, a naturally healthy protein that is high in fiber, low in saturated fat as its main ingredient. It has zero cholesterol.

SOURCE : http://www.philstar.com/business/2016/11/18/1644757/shakeys-adds-meat-free-pizza-local-menu


P5.5B IPO of Shakey’s Pizza PH operator ok’d



The Securities and Exchange Commission has approved a plan by Po family-led Shakey’s Pizza Asia Ventures Inc (SPAVI), a leading full-service restaurant in the country, to raise up to P5.5 billion from a local stock market debut this year.

Based on SEC documents, SPAVI will sell up to 352 million primary and secondary shares – including 46 million shares to meet excess demand, at a maximum price of P15.58 each.

The base offer will consist of 104 primary common shares and 202 million secondary common shares.

This offer will bring to public hands around 23 percent of SPAVI’s shares.

SPAVI, which owns the rights to the Shakey’s trademark, holds the number one position in the traditional full service pizza chain and family style casual dining categories. It is majority owned by the Po Family’s Century Pacific Group Inc (CPGI), parent company of Philippine listed Century Pacific Food Inc (CNPF).

Read more: http://business.inquirer.net/219753/spavi-ipo-shakeys-pizza-asia-ventures-inc-ipo#ixzz4QbhrXOzV

SOURCE : http://business.inquirer.net/219753/spavi-ipo-shakeys-pizza-asia-ventures-inc-ipo


Shakey’s PH seeks P5.5B IPO



PO family-led Shakey’s Pizza Asia Ventures Inc (SPAVI), a leading full-service restaurant in the country, seeks to raise up to P5.5 billion from a local stock market debut this year.

SPAVI filed on Monday a prospectus with the Securities and Exchange Commission (SEC) to sell up to 352 million primary and secondary shares – including 46 million shares to meet excess demand, at a maximum price of P15.58 each.

The offer price is expected to be finalized in November ahead of a possible listing in December 2016.

“We intend to use the offer proceeds for the expansion of our in-house commissary, working capital requirements, potential acquisitions, and repayment of debt,” SPAVI said late Monday.

Deutsche Bank AG had been appointed sole global coordinator and bookrunner for the deal while BDO Capital and Investment Corp. and First Metro Investment Corp. were mandated as joint lead managers and underwriters.

Evercore acts as exclusive financial adviser to SPAVI.

SPAVI’s in-house commissary supplies the bulk of its proprietary pizza dough and crust used to create Shakey’s trademark “thin crust” pizza.

Shakey’s, recognized globally as the original pizza franchise in the US, was first established in the US in 1954 and is best known for “the pizza that started it all”. The first Shakey’s pizza parlor opened in the Philippines in 1975. It has since then gained popularity for its thin crust pizzas and its iconic chicken and mojos.

Locally, where SPAVI owns the rights to the Shakey’s trademark, the company holds the number one position in the traditional full service pizza chain and family style casual dining categories. It had 177 stores all over the country as of June 2016, with plans to expand in the greater Manila and provincial areas. Seven more stores are expected to open before the end of 2016, with 20 more new stores in the pipeline for 2017.

Apart from the Philippines, SPAVI also owns perpetual rights to the Shakey’s brand for the Middle East, Asia (ex Japan and Malaysia), China, Australia, and Oceania.

SPAVI is majority owned by the Po Family’s Century Pacific Group Inc (CPGI), parent company of Philippine listed Century Pacific Food Inc (CNPF).

Earlier this year, CPGI and GIC, Singapore’s sovereign wealth fund, teamed up to acquire majority of the pizza business from the Prieto family, which continues to hold a minority stake in SPAVI.



SOURCE : http://business.inquirer.net/216408/shakeys-ph-seeks-p5-5b-ipo

SHAKEY'S MOVES TO NEW HQ IN 2017


Shakey’s Pizza Asia Ventures Inc. (SPAVI), the Philippines' leading chained full-service restaurant, will transfer to its new corporate headquarters early next year as it gears up for sustained growth, an aggressive store expansion plan, and a possible public offering late this year.
The new headquarters, located in Parañaque City, will stand four stories tall and is scheduled to open in the second quarter of 2017.



(From left) President and CEO Vicente Gregorio, Chairman Christopher Po, Vice Chairman Ricardo Po Jr, Pilar Prieto Lorenzo at the groundbreaking ceremony for Shakey’s Pizza Asia Ventures’ new headquarters.
“This is a dream come true for all of us,” said President and CEO Vicente Gregorio during a groundbreaking ceremony.
 SHAKEY'S PIZZA ASIA VENTURES INC is majority owned by the Po Family’s Century Pacific Group Inc., parent firm of Century Pacific Food Inc. (CNPF) and Arthaland Corp. (ALCO).

Investment Highlights

  1. Shakey’s is the #1 Full Service Pizza Chain and #1 Full Service Restaurant Chain in the Philippines
    • Shakey’s is the No. 1 full-service pizza chain in the Philippines with 58% market share, followed by Pizza Hut with only 35% market share. Shakey’s is also the dominant player in the full-service restaurant industry with 27% market share, trailing behind are Pizza Hut and Max’s Group with 16% and 11% market share, respectively. The full-service pizza chain industry is expected to have faster growth over other food chains in the next five years. These confirm continued growth of Shakey’s business in the coming years. (Source: 2015 Euromonitor Report)
  2. Shakey’s has a strong and well-established brand
    • The 2nd most popular brand in the Philippines under the fast food chains and restaurant category, after McDonald’s per a survey developed by Campaign Asia-Pacific in partnership with Nielsen to identify Top 1,000 brands in Asia.
    • Superior value comes from its differentiated menu offerings and high-quality products. Its iconic products include the famous thin crust pizzas and highly popular Chicken & Mojos are complemented with appetizer and pasta dishes. It is also the only full service pizza chain in the Philippines to have an in-house bar area serving draft beer and brewed coffee, among others.
    • Acquired the trademarks and licenses to operate the Shakey’s brand in the Philippines and across Asia (except Malaysia and Japan, but including China), Middle East, Australia and Oceania.
    • Stores are located in strategic sites i.e. highly-dense convergence areas and along major roads where there is high visibility and accessibility. Shakey’s is extensively represented throughout the major urban centers and key islands in the Philippines.
    • Supercard , Shakey’s membership card, is among the most popular loyalty programs in the industry.
  3. Shakey’s has a proven and scalable business model
    • Firmly positioned in the fast-casual segment that delivers high margins and good volumes. It also benefits from the consumer trend shifting from fast food to casual dining.
    • Has owns its biggest commissary which supplies its proprietary raw materials, enabling them quality control as well as economies of scale and purchasing synergies.
    • Operates on an asset light model. They lease and not own their stores, enabling high financial liquidity. Long-term leases in their store locations at attractive rental rates also lead to low rent-to-sales ratio.
    • Presented in different store formats such as Legacy Stores, Free Standing Stores, mall and strip mall outlets and gasoline kiosks, enabling them to capture the diverse needs and preferences of the market.
    • Has multiple sales channels (dine-in, delivery, carry-out, functions, online sales, and supercards) providing convenience and accessibility to its customers.
    • Shakey’s has a well-established franchise model with industry leading ROI of 3-4 years.
    • Has excellent food safety and quality control processes in place. (supplier quality control, employee training, internal audit, independent audit, area business managers, inventory management, store renovations)
  4. Shakey’s has an experienced management team
    • Has a strong management team adding up to more than 100 years of experience in the food business.
    • The team is lead by President and CEO Vicente L. Gregorio who has been driving the Shakey’s business since 2003. He is supported by CFO Manuel del Barrio, previously Finance head of Philippine-listed Century Pacific Food Inc and Pacific Meat Inc. Jorge C. Concepcion, general manager of Shakey’s has over 30 years of food service experience both locally and abroad.
    • The team is also supported by foreign consultants Alois Brielbeck and Joseph Remsa. Alois is COO of Culinary Systems Specialists Inc. and has held top positions in pastry kitchens in Hong Kong and Tokyo. Joe is previously the President and CEO of Shakey’s USA. He is leading the development and operations of Shakey’s brands in Asia, Middle East, Australia and Oceania. He has over 25 years of experience in operations and franchising of top chained restaurants.

Financial Highlights

Financial Reports

Investor Relations Program

Maintaining open communications and credibility with various stakeholders is a priority of Shakey’s Pizza Asia Ventures Inc. The Company values its investors’ opinions and is continually seeking new opportunities to engage in constructive dialogue with its shareholders.

The Investor Relations Office makes publicly available essential investor information primarily through Philippine Stock Exchange disclosures.


Other specific initiatives included:

  • Investor conferences and meetings. In addition, investors may contact our Investor Relations Office on a continuing basis.
  • * The use of the website to enable engagement with a broader group of stakeholders.

Investor Contact

For investor-related questions, please contact:

Ms. Giovanna Vera
investorrelations@shakeys.biz

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AGREEMENT


hereby declare that I am a resident of and am entitled to receive information contained on this web site.

The information on this web site is intended to be available only to Philippine and non-Philippine citizens residing in the Philippines or corporations or judicial entities organized and existing under Philippine law, and is not intended for distribution in the United States (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”)). The information contained in this web site may not be published or distributed, directly or indirectly, into the United States and this information (including the draft prospectus, preliminary prospectus and the final prospectus) does not constitute an offer of Offer Shares for sale or a solicitation of an offer to buy Offer Shares in the United States. The Offer Shares described in the draft prospectus, preliminary prospectus and the final prospectus have not been, and will not be, registered under the U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States and may not be offered or sold, directly or indirectly, into the United States unless the Offer Shares are so registered or an exemption from the registration requirements is available. The Company does not intend to register the Offer Shares under the U.S. Securities Act or conduct a public offer of the Offer Shares mentioned herein in the United States.