After the sale of his interest in the national electricity superhighway, tycoon Ricky Razon is now shopping around for a listed shell company for his ventures outside of international port operator ICTSI.
We're talking about Bloomsbury Investments, which is now building a $1.3-billion integrated casino and tourism facility at the Pagcor-initiated Entertainment City in partnership with the gigantic Las Vegas Sands group, which operates the famous Venetian casino complex.
According to the grapevine, Razon is in talks with publicly listed IPVG Corp. or some of its operating units for the backdoor-listing ticket. IPVG, after all, is undertaking a restructuring program to unlock values at the publicly listed shell company level while spinning off its technology-related businesses. This means that Razon can come in and infuse his gaming interests into IPVG.
-Doris Dumlao
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