Quick takes from around the market
Solar Philippines NEC [SPNEC 1.57 0.64%] [link] disclosed that its parent company, Solar Philippines, has submitted offers to “substantially contract its 10 GW of developments”. These developments are the subject of the share-swap between SPNEC and Solar Philippines, which has not yet occurred. SPNEC’s owner, Leandro Leviste, has said that SPNEC will release additional info in the coming days to give investors a better idea of “what SPNEC will look like after the asset-for-share swap”. More info is always good. I get the impression that there are still some important missing bits that would really help firm-up SPNEC’s valuation.
House of Investments [HI 3.41 2.29%] [link] board approves purchase of A.T. Yuchengco Centre building from RCBC [RCB 19.90 2.69%] for P6.1 billion, and approves authority of the HI board to enter into a joint venture contract with the Provincial Government of Cavite for the Sangley Point International Airport Development Agreement, should HI’s bid (as part of the SPIA Development Consortium) win the award of contract. Sangley Point has been an absolute clown show of a bidding process so far. I’ll only believe it when I see shovels in the ground.
TKC Metals [T 0.77] [link] trading suspension was lifted at 2pm yesterday after it submitted its quarterly and annual reports. No trades were noted, so perhaps this morning will be the first real test of T’s market price since the suspension was enforced three weeks ago.
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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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