June 14, 2013
Philippine stocks experienced a sharp one-day drop yesterday, recording the worst stock market performance since 2008, during the collapse of investment banking giant Lehman Brothers.
The Philippine Stock Exchange index (PSEi) registered a huge 6.75% loss yesterday (June 13, 2013), closing at 6,114.08 — a steep decline not seen since October 27, 2008 when local stocks dropped a whopping 12.27% as an aftermath of the Chapter 11 bankruptcy filing of Lehman Brothers in September 2008.
June 13, 2013
Four (4) publicly-listed companies are in danger of being delisted from the Philippine Stock Exchange (PSE) if they fail to comply with the public float requirement before the end of this month.
The four companies are PAL Holdings (PAL), Nextstage Inc. (NXT), Philcomsat Holdings Corp. (PHC), and PNOC-Exploration Corp. (PEC).
June 10, 2013
Food and beverage maker Del Monte Pacific Ltd., owner of the Del Monte and Today’s brands of pineapple, tomato and mixed-fruit products, started trading on the Philippine Stock Exchange (PSE) today and closed at P27.20, down 8.72% from its initial listing price of P29.80.
DMPL shares hit an intra-day high of P30.00 and a low of P26.55 before closing at P27.20 on its first trading day.
The company got approval from the PSE to offer its shares to the public but not through the traditional way of Initial Public Offering but through the alternative Way of Introduction.
June 10, 2013
In the Philippines, a company may list its shares on the exchange through one of two ways: Initial Public Offering (IPO) or Listing by Way of Introduction.
June 3, 2013
“You only find out who is swimming naked when the tide goes out.”
Warren Buffett, CEO of Berkshire Hathaway and widely considered as this generation’s most successful stock investor, may be referring to problem companies when he made that statement but the quote may very well refer to stock investors as well who do not understand what stock market investing really is all about.
May 31, 2013
First the good news, then the bad news.
The Philippines recorded a stunning 7.8% growth in its Gross Domestic Product (GDP) during the first quarter of 2013 compared to the same period last year, becoming the fastest growing economy in East and Southeast Asia. And yet this good news failed to boost the local stock market, with the benchmark Philippine Stock Exchange index (PSEi) incurring heavy losses yesterday to close at 6,953.35, down 3.81%.
May 28, 2013
It’s a bloodbath out there.
We’re talking about the Philippine stock market, which booked its third consecutive drop yesterday, closing at 7,097.51 — a huge one-day loss of 2.36%. On Thursday and Friday last week, the PSEi started declining in value and, yesterday, the three-day accumulated loss already reached almost 4%.
As expected, the stock market frenzy sent some investors into panic mode. Several traders frantically sold stocks out of fear, while some looked for other people — brokers, friends, agents, financial advisers — to blame for the chaos in the market.
May 20, 2013
Despite a slowdown in the Philippine stock market on Friday, May 17, the stock of Asia United Bank (AUB) bucked the trend and ended on a high note, closing at P104.00 on its first trading day.
In its market debut, AUB gained 9.5% compared to its offer price of P95.00. That means if you bought 100 shares of AUB during the offer period (amounting to P9,500.00), your money has grown from P9,500.00 to P10,402.50 in just one day.
May 14, 2013
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May 7, 2013
The Rebisco-owned bank, Asia United Bank (AUB), will be the second bank and the second company this year to have an initial public offering (IPO).
The bank recently announced that it will be offering more than 88 million shares to the public for the first time, priced at P95 per share.