Quick takes from around the market
Solar Philippines NEC [SPNEC 2.12 0.47%] [link] will hold its shareholders’ meeting today at 9am to vote on a range of issues related to its assets-for-shares swap. We should get a lot more information today/soon about what SPNEC specifically wants to do, and how it plans to do it.
PSE [PSE 213.00 4.91%] [link]has yet to schedule any of the hopeful March IPOs. Whether it’s due to the rewording of the underwriter agreements to prevent another DITO [DITO 5.54 1.95%] “yoink” situation, or some other bottleneck-type of situation, we can’t know for sure. I think it’s pretty unlikely we get any IPOs this month, to be honest.
Security Bank [SECB 113.00 0.70%] [link] FY21 net income down 7%; the bank dodged mentioning its annual performance, and instead tried to distract with a solid 21% improvement in its Q4 profit on a quarter-on-quarter basis. SECB appeared to blame CREATE Law for the annual profit miss, by implying the P1.2 billion one-time charge on deferred tax assets caused the dip in FY21 net income.
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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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