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Manila Bulletin devider Business devider The Stock Market devider Belle to raise ₱280-million fresh capital from treasury share sale to fund new projects

Belle to raise ₱280-million fresh capital from treasury share sale to fund new projects

Published Mar 4, 2026 02:31 pm
Belle Corp. Co-vice Chairman Willy N. Ocier
Belle Corp. Co-vice Chairman Willy N. Ocier

Belle Corp., the SM Group’s leisure developer and gaming unit, is raising ₱280 million from the sale of treasury shares to help fund part of the cost of its future projects.

In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, March 4, the firm said its board of directors approved the plan to “liquefy some of its dormant assets” to raise fresh capital to be used partly for the corporation’s forthcoming projects.

The sale of treasury shares will be done through the facilities of the PSE at, at minimum, prevailing market prices at the time of sale.

Belle’s management has been delegated to effect the sale, which will amount to 200 million treasury shares at ₱1.40 per share from March 4 to 25, 2026.

The sale of the shares will increase the company’s public float by 1.12 percentage points (ppts) to 45.71 percent from 44.59 percent, assuming all 200 million shares are sold to public shareholders.

As of March 3, 2025, Belle had 10.56 billion issued and listed shares, of which 9.7 billion were outstanding, while 864.54 million were held as treasury shares.

Belle reported a 14-percent drop in net income to ₱1.32 billion for the first nine months of 2025 from ₱1.53 billion during the same period in 2024, mainly due to lower earnings from City of Dreams Manila (CODM).

The firm said consolidated revenues declined five percent to ₱3.88 billion for the nine months ended Sept. 30, 2025, from ₱4.09 billion during the same period in 2024.

Aggregate revenues from real estate operations dipped one percent to ₱2.17 billion from ₱2.21 billion during the same period in 2024.

Belle’s revenues from leasing CODM to Melco Resorts and Entertainment (Philippines) Corp. (MRP) contributed ₱1.76 billion in 2025, which was one percent higher than the ₱1.74 billion recorded during the same period in 2024.

Sales of real estate and revenue from property management at Tagaytay Highlands complex contributed ₱409.1 million as of the third quarter of 2025, which was 12 percent lower than the ₱464.2 million recorded as of the third quarter of 2024.

The share in gaming revenue at CODM of Belle’s subsidiary, Premium Leisure Corp. (PLC), amounting to ₱1.32 billion as of the third quarter of 2025, was 12 percent lower than ₱1.5 billion during the same period in 2024.

Pacific Online Systems Corp., through PinoyLotto Technologies Corp., a 50-percent-owned joint venture (JV) operation that leases online lottery equipment to the Philippine Charity Sweepstakes Office (PCSO), posted revenues of ₱388.4 million in each of the comparable periods in 2025 and 2024, while net income surged to ₱20.28 million from ₱4.5 million.

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