Quick takes from around the market
PSE [PSE 210.00] will return to regular trading schedule starting February 2nd, which is the day the DITO [DITO 5.22 0.77%] stock rights offering shares are made available for trading.
ABS-CBN [ABS 12.76 10.14%] had another of its former channels transferred to a presidential supporter. The NTC transferred authority to operate channel 43 to Apollo Quiboloy's Sonshine Media Network International. ABS’s old channel 23 went to Aliw Broadcasting Corporation. As mentioned above, these transfers don’t prevent ABS from returning to broadcasting using any of the other channels; it’s just the final moves in a long-term spat between the President and the Lopez Family. The stock price fell 10% yesterday in response.
Figaro Coffee Group [FCG 0.92 17.95%] had a massive 18% gain yesterday on absolutely no news or disclosures. The volume of yesterday’s trading was 71% the size of the volume FCG did on its IPO day, and 3.5x the size of the volume it did in that somewhat boring day in between.
Citicore REIT [CREIT 3.15 pre-IPO] pricing date was yesterday, but the day came and went without notice from the company or its parent, Megawide [MWIDE 5.01 unch], on what the final offer price of the IPO will be. We’ll probably get a disclosure sometime today. Let’s see if they discount like FCG did, or hold steady like Solar Philippines NEC [SPNEC 2.07 2.48%] and Haus Talk [HTI 1.30 1.52%] did.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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