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Ipo Analysis of 2go Group Inc.

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Submitted By edwinbanarjee
Words 411
Pages 2
2GO Group, Inc. (2GO) was formed and organized in May 26, 1949 under the corporate name William Lines, Inc. On February 4, 2004, WG&A changed its corporate name to Aboitiz Transport System (ATSC) Corporation as a result of the buyout made by Aboitiz Equity Ventures, Inc. (AEV) of the Chiongbian and Gothong holdings in WG&A in 2002.On December 01, 2010, the major stockholders of 2GO, AEV and Aboitiz and Company, Inc. (ACO) approved the sale of their shareholdings in 2GO to Negros Navigation Co., Inc. (NENACO) and the sale was consummated last December 28, 2010. The equity value included all the logistics and shipping businesses of 2GO except its interest in its joint venture companies with the Jebsen Group of Norway. AEV's and ACO's shareholdings in 2GO represented 77.24% and 15.96%, respectively, of the total outstanding common shares of 2GO. In February 2011, as a result of the mandatory tender offer requirement, NENACO's ownership in ATS increased by 4.92%. Thus, in 2011, 2GO amended its Articles of Incorporation to change the corporate name to ATS Consolidated (ATSC), Inc. The amendment was approved by the SEC in August 24, 2011.

On the 20th day of May, 1949, that the authorized capital stock of the Corporation was Four Billion Seventy Four Million Nine Hundred and Eight Thousand (P4,074,908,000.00), Philippine currency, divided into: Figure 1: Capital stock, shareholders and outstanding shares

Table 1: Capital Stock, shareholders and outstanding shares of 2GO gorup, Inc. Date | capital stock | Shareholders | Total issued and outstanding shares | 20 May, 1949 | P4,074,908,000.00 | 989 | 5,444,133,2 | 25 June 2012 | P21,753,189.09.00 | 1487 | 2,242,126,112 | May 14, 2013 | P25,744,189.11.00 | 1948 | 2,446,136,400 |

Table 2: Revenue earnings of 2006, 2007 and 2012 Total Revenue in 2006 Billion Peso | Total Revenue in 2007 Billion

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