Zobel-led Ayala Corporation, the country’s oldest conglomerate, has raised P2.21 billion from the sale of treasury common shares on top of its planned P15 billion preferred share offering. The firm disclosed to the Philippine Stock Exchange, that it sold 3.07 million treasury common shares...
The local stock market finally succumbed to profit-taking after rallying in the past week. The PSEi dropped 69.59 points or 0.94 percent to end at 7,362.62 as Banks led the retreat while Miners bucked the trend as gold prices rise. Volume remains robust at 1.07 billion shares worth P8.05 billion as...
Filinvest Land, Inc. is preparing for another asset infusion into its real estate investment trust Filinvest REIT Corporation (FILRT) by undertaking a P1.55 billion tender offer for its shares in exchange for FILRT stock. In a disclosure to the Philippine Stock Exchange, the firm said its...
Davao tycoon Dennis A. Uy’s DITO CME Holdings Corporation has decided to postpone indefinitely its planned P4.2 billion follow-on-offering (FOO) originally scheduled from September 26 to October 2, 2024. In a letter to the Philippine Stock Exchange, the firm said that, “upon careful...
Axelum Resources Corporation, a coconut products manufacturer and exporter, is conducting a share buy-back program worth an initial P500 million over the next six months. In a disclosure to the Philippine Stock Exchange, the firm said its board of directors has authorized the share buy-back program...
The local stock market rose further but ofc the day’s high as already positive investor sentiment was boosted by gains in US bourses. The main index added 14.96 points or 0.20 percent to close at 7,432.21 as the Property sector led the advance while Conglomerates and Services lagged behind....
Asian leaders emphasized that economic growth can be achieved through fair and equitable expectations between developed and developing countries, all while keeping emissions in check. At Coaltrans Asia 2024 in Bali, Indonesia, Aboitiz Power Corp. and other leaders discussed carbon reduction efforts...
The joint venture of Copenhagen Energy (CE) and PetroGreen Energy Corporation as developer of the frontrunner 2.0-gigawatt (2,000 megawatts) Buhawind offshore wind farm project in Ilocos Norte is now seeing the finish line clearer for 2028, following government declarations of resolving hurdles on...
Publicly-listed paper packaging firm Steniel Manufacturing Corporation is planning to raise up to P315 million from the public through a planned follow-on offering of new common shares. In a disclosure to the Philippine Stock Exchange (PSE), the firm said its board of directors has approved the...
Leading oil firm Petron Corporation has successfully raised P16.83 billion from its preferred shares offering, which was rated to have been 1.3 times oversubscribed versus initial target. “The proceeds from the offer will be used to redeem the company’s Series 3A Preferred Shares and fund...
The local stock market shrugged off profit-taking fears and shot up to the 7,400 level following the central bank’s announcement of a reduction in the reserve require ratio.
A new cascade of financial pressure will be on consumers’ pockets this week as gasoline prices will be rising by P1.10 per liter; while diesel prices will go up by a marginal P0.20 per liter. Propitiously for kerosene products, there will be no cost movement this week, based on the pricing...
