Auerbach Grayson & Company, a New York-based global brokerage firm and investment bank, said it placed a block of stock in Abacore Capital Holdings Inc. with major institutional asset managers based in North America and Europe.
ABA is a conglomerate dealing in coal and gold mining, financial services, leasing of gaming equipment and real estate. The amount of shares and the seller’s identity was not disclosed.
“We are pleased to work with Auerbach Grayson in this transaction. WeCap is grateful for the opportunity to advise clients in directing their investments towards companies that have successfully demonstrated long-term growth potential,” said Job Ambrosio, chief executive of WeCap Inc. WeCap, a boutique advisory firm based in Manila, represented the sellers in the transaction.
ABA is pursuing ventures with various business partners across a range of sectors. The company signed a coal exploration agreement with Oriental Vision Mining Philippines Inc.
ABA also sold land to the Gaisano group and a national meat-processing chain—marking these entities’ entry into the Batangas market to expand their operations.