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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