Business - Stock Commentary | Philstar.com

Bright Kindle said that its wholly-owned subsidiary, Brightstar Holdings and Development Inc. (BHDI), signed a Deed of Exchange to acquire 100% of the outstanding shares of Strong Built (Mining) Development Corp., using P5 billion worth of newly issued shares of BHDI.

Abra Mining was fined by the PSE yesterday for violations of Sections 17.6 (“Report on number of shareholders”) and 17.13 (“Report on foreign ownership”).

Citicore Renewable Energy clarified a recent report on its increase in capex for FY25, confirming the base thesis of the article that CREC “will likely have an increase in [capex] for 2025”, but adding that the “shelf registration” mentioned in the article for future fundraising is actually a “possible bond issuance with shelf registration.”

Megawide, the infrastructure and property development arm of Edgar Saavedra’s group of companies, clarified a recent report on its 42-station Cavite Bus Rapid Transit Project to say that the total project cost of P1.87 billion will be “spread over the concession period of 30 years” and that MWIDE expects to complete Phase 1 of the Cavite BRT “in about two years.”

Citicore Renewable Energy Corp. disclosed that its parent company, Citicore Power Inc., will sell 346.34 million common shares of CREC to the public ahead of PT Pertamina Power Indonesia’s acquisition of 2.23 billion primary shares of CREC.