China Banking Corporation [CHIB 40.30 ?0.1%; 41% avgVol] [link] disclosed that its board approved a measure to change its ticker symbol from CHIB to “CBC”, which the company said was “part of its corporate brand refresh exercise.” There will be no associated change to its corporate name.
MB BOTTOM-LINE: I have no idea why CHIB disclosed this at 9:52 AM, then again at 10:44 AM with an [Amend-1]. I did a reading of both docs and I can’t see any difference. Anyway, I like the change, but I wish the company would be more internally consistent with how it uses its “Chinabank” trade name. It’s a pet peeve, but I don’t like that we all know the actual bank as “Chinabank”, but its PSE legal name is “China Banking Corporation”. “China Bank Securities Corporation” brands its stock trading platform in its logo as “ChinabankSec Online” (Chinabank as one word), but in its copy as “ChinaBankSec Online” (stylized as two words). They list China Bank Securities Corporation as a subsidiary of “China Bank Capital”, but when you go to that company’s website, they call it “Chinabank Capital”, and they refer to themselves as the “Chinabank Capital Corporation” in their “About Us” section. Maybe their brand is going through a refresh, but it feels like it’s jumped in the shower without taking its old clothes off. Small potatoes, I know. The market is so dull that I’m going out of my way to make it interesting to myself!
Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.