MANILA, Philippines - The Philippine Stock Exchange (PSE), is looking at six to eight initial public offerings (IPOs) this year or possibly double the four IPOs last year, its top official said.
“We’re looking at six to eight IPOs this year. It should be better than last year,” PSE president Hans Sicat said in a recent interview.
Sicat declined to name which companies but noted that some of these IPO candidates already have pending applications with the PSE.
Sicat said the environment is likely better this year as some of the global uncertainties have already dissipated. These include last year’s policy rate setting meeting of the US Federal Reserve, the US elections and move of Britain to exit from the European Union.
Among the IPO bound companies are Xeleb Inc., the celebrity mobile games company of listed technology company Xurpas Inc., media technology company Audiowav and home and construction supplier Wilcon.
Last year, total capital raised from the local bourse including IPOs amounted to P170.12 billion, slightly lower than the P184.60 billion raised for the whole of 2015.
IPOs alone amounted to P29 billion last year from P5 billion in 2015, according to data from the First Metro Investment Corp., the investment banking arm of George Ty-owned Metrobank.
Read more at http://www.philstar.com/business/2017/01/16/1662580/pse-looking-8-ipos-year
Wednesday, January 25, 2017
PSEi rallies ahead of GDP
MANILA, Philippines - The stock market rallied yesterday on expectations of a strong gross domestic product (GDP) growth for 2016.
The benchmark Philippine Stock Exchange Index soared 141.69 points or 1.95 percent to finish at 7,374.35 while the broader All Shares index rose by 60.51 points or 1.38 percent to end at 4,426.14
Most of the sectors likewise closed in positive territory recording huge gains – 2.26 percent for the holding firms index, 1.57 percent for the services gauge and 1.49 percent for the financials index
Total value turnover reached P5.61 billion.
Market breadth was positive as advancing stocks outpaced decliners, 108 to 79 while 45 stocks were left unchanged.
The National Economic and Development Authority (NEDA) is expected to announce the fourth quarter and full year 2016 gross domestic product performance on Jan. 26.
Moody’s Analytics expects the economy to have accelerated to 7.05 percent in 2016 as it is expected to have accelerated 7.2 percent in the final quarter of last year,
Read more at http://www.philstar.com/business/2017/01/24/1664813/psei-rallies-ahead-gdp-report
Monday, January 23, 2017
Philippines stocks higher at close of trade; PSEi Composite up 1.96%
Investing.com – Philippines stocks were higher after the close on Monday, as gains in the Holding Firms, Services and Banking & Financials sectors led shares higher.
At the close in Philippines, the PSEi Composite gained 1.96% to hit a new 1-month high.
The best performers of the session on the PSEi Composite were SM Investments Corp (PS:SM), which rose 5.37% or 36.000 points to trade at 706.000 at the close. Meanwhile, Robinsons Land Corp (PS:RLC) added 4.17% or 1.050 points to end at 26.200 and Globe Telecom Inc (PS:GLO) was up 4.04% or 68.000 points to 1750.000 in late trade.
The worst performers of the session were Alliance Global Group Inc (PS:AGI), which fell 1.25% or 0.160 points to trade at 12.600 at the close. Semirara Mining Corp (PS:SCC) declined 0.14% or 0.2000 points to end at 139.5000 and Megaworld Corp (PS:MEG) was 0.00% or 0.000 points to 3.730.
Rising stocks outnumbered declining ones on the Philippines Stock Exchange by 107 to 79 and 45 ended unchanged.
Gold for February delivery was up 0.69% or 8.35 to $1213.25 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March fell 0.64% or 0.34 to hit $52.88 a barrel, while the March Brent oil contract fell 0.47% or 0.26 to trade at $55.23 a barrel.
CNY/PHP was up 0.25% to 7.2775, while USD/PHP fell 0.05% to 49.895.
The US Dollar Index was down 0.44% at 100.33
The Bill Chill plans P600M IPO
Beverage retailer The Big Chill Inc. (TBCI), a subsidiary of publicly-listed Agrinurture Inc. (ANI), plans to debut on the local stock market this year to raise as much as P600 million for an expansion program in Greater China.
Banking on rekindled bilateral ties between China and the Philippines following Pres. Rodrigo Duterte’s visit to Beijing last October, TBCI said in a press statement on Monday that it would raise capital expenditures for such offshore expansion.
Ahead of this equity exercise, the board of TBCI approved the issuance of warrants in favor of qualified shareholders of its parent firm ANI as of record date Feb. 3, 2017.
A warrant gives the holder the right, but not the obligation, to buy or sell a security at a certain price before expiration. The price at which the underlying security can be bought or sold is referred to as the exercise price or strike price.
In this case, a shareholder of ANI owning at least 2,000 shares will have the right to avail of one TBCI warrant at the strike price of P1 or based on TBCI par value, with five-year American call option that will expire on Jan. 19, 2022. The ratio will be one warrant equivalent to one TBCI share.
The proposed initial public offering is expected to range from a low of P500 million to as high as P600 million, a company spokesperson said.
Read more: https://business.inquirer.net/223369/bill-chill-plans-p600m-ipo
Banking on rekindled bilateral ties between China and the Philippines following Pres. Rodrigo Duterte’s visit to Beijing last October, TBCI said in a press statement on Monday that it would raise capital expenditures for such offshore expansion.
Ahead of this equity exercise, the board of TBCI approved the issuance of warrants in favor of qualified shareholders of its parent firm ANI as of record date Feb. 3, 2017.
A warrant gives the holder the right, but not the obligation, to buy or sell a security at a certain price before expiration. The price at which the underlying security can be bought or sold is referred to as the exercise price or strike price.
In this case, a shareholder of ANI owning at least 2,000 shares will have the right to avail of one TBCI warrant at the strike price of P1 or based on TBCI par value, with five-year American call option that will expire on Jan. 19, 2022. The ratio will be one warrant equivalent to one TBCI share.
The proposed initial public offering is expected to range from a low of P500 million to as high as P600 million, a company spokesperson said.
Read more: https://business.inquirer.net/223369/bill-chill-plans-p600m-ipo
Tuesday, January 10, 2017
PSEi now at 7,300 level
The local stock barometer continued its winning streak for the sixth straight session on Tuesday, firming up above the 7,300 mark despite an overnight downturn in Wall Street.
T
he main-share Philippine Stock Exchange index gained 88 points or 1.21 percent to close at 7,364.34 as risk appetite held up across the region despite renewed jitters in the West.
“Risk sentiment took a hit last night with investors getting anxious about the future of the single EU market. Weakening of commodity prices did not help the broad sentiment either,” Citigroup said in a research note.
At the local market, positioning for the year ahead continued to dominate given good prospects for the economy this year.
Read more: https://business.inquirer.net/222765/psei-now-7300-level
T
he main-share Philippine Stock Exchange index gained 88 points or 1.21 percent to close at 7,364.34 as risk appetite held up across the region despite renewed jitters in the West.
“Risk sentiment took a hit last night with investors getting anxious about the future of the single EU market. Weakening of commodity prices did not help the broad sentiment either,” Citigroup said in a research note.
At the local market, positioning for the year ahead continued to dominate given good prospects for the economy this year.
Read more: https://business.inquirer.net/222765/psei-now-7300-level
Saturday, January 7, 2017
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Friday, January 6, 2017
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Philippines stocks higher at close of trade; PSEi Composite up 0.54%
Investing.com – Philippines stocks were higher after the close on Friday, as gains in the Services, Property and Holding Firms sectors led shares higher.
At the close in Philippines, the PSEi Composite added 0.54% to hit a new 1-month high.
The best performers of the session on the PSEi Composite were Globe Telecom Inc (PS:GLO), which rose 6.25% or 99.000 points to trade at 1684.000 at the close. Meanwhile, Aboitiz Equity Ventures Inc (PS:AEV) added 3.17% or 2.300 points to end at 74.800 and International Container Terminal Services Inc (PS:ICT) was up 2.92% or 2.100 points to 73.900 in late trade.
The worst performers of the session were Petron Corp (PS:PCOR), which fell 5.34% or 0.550 points to trade at 9.750 at the close. DMCI Holdings Inc (PS:DMC) declined 2.67% or 0.360 points to end at 13.100 and GT Capital Holdings Inc (PS:GTCAP) was down 0.96% or 13.000 points to 1337.000.
Falling stocks outnumbered advancing ones on the Philippines Stock Exchange by 101 to 98 and 37 ended unchanged.
Gold for February delivery was down 0.40% or 4.75 to $1176.55 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 0.02% or 0.01 to hit $53.77 a barrel, while the March Brent oil contract rose 0.02% or 0.01 to trade at $56.90 a barrel.
CNY/PHP was down 0.37% to 7.1526, while USD/PHP rose 0.14% to 49.525.
The US Dollar Index was up 0.25% at 101.64.
Source : Investing.com
Tuesday, January 3, 2017
PSEi up on 2017’s first trading day
The local stock barometer closed higher in thin trading on the first working day of 2017, as upbeat China factory gauge brought good tidings to regional markets.
The Philippine Stock Exchange index gained 20.67 points or 0.30 percent to 6,861.31 on the first trading day of the year.
For the third straight session, foreign investors were in a net buying position on upbeat prospects for the new year. Net foreign inflows to the local stock market stood at P319 million for the day.
Value turnover for the day was meager at P2.68 billion as many investors were still on a holiday break after the New Year turnover.
“The year ahead could once again be challenging. However, I believe that challenges offer us opportunities. Challenges hone our skills, develop our character, and allow us to appreciate the things we have,” PSE chair Jose Pardo said in his welcome remarks during the bell ringing program on Tuesday.
The Philippine Stock Exchange index gained 20.67 points or 0.30 percent to 6,861.31 on the first trading day of the year.
For the third straight session, foreign investors were in a net buying position on upbeat prospects for the new year. Net foreign inflows to the local stock market stood at P319 million for the day.
Value turnover for the day was meager at P2.68 billion as many investors were still on a holiday break after the New Year turnover.
“The year ahead could once again be challenging. However, I believe that challenges offer us opportunities. Challenges hone our skills, develop our character, and allow us to appreciate the things we have,” PSE chair Jose Pardo said in his welcome remarks during the bell ringing program on Tuesday.
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