Everything But Pacific

It was a great bet, if you could get your broker to take your money.

Shares of Pacific Online Systems Corp. , the exclusive operator of lotto outlets in the Visayas and Mindanao regions, had a rip-roaring ride, jumping almost 50% in their debut on the Philippine Stock Exchange. The stock went from its IPO price of P8.88 to P13.25.

The company sold 39.8 million shares to investors (it has 191 million shares in total). With the first-day rise of P4.37 per share, the people who were able to get any of the 39.8 million up for grabs are now collectively P174 million pesos richer. Not bad.

Pacific Online president Willie Ocier attributed the company’s successful public offering to its growth potential. “I think the reason why the stock performed very well is because of the belief of the investing public that we are a growth company. We are hopeful that the new products that will be offering will contribute to the growth of the company,” Ocier told reporters following the listing ceremony for Pacific Online shares.

The exciting thing for gamblers are the new games forthcoming:

Power Lotto is similar to current lotto games but a ticket is priced higher at P50 and the jackpot price worth P50 million. EZ 2 is a two-digit game aimed at competing with local jueteng while Keno is the marathon lottery game.

The state-owned Philippine Charity Sweepstakes Office is evaluating the new gaming products.

Ocier said Keno, the fastest-growing lottery game in Australia, would be launched by the second half of the year. Pacific Online plans to set up 200 parlor sites for Keno within the year at a cost of some P30 million.