Exercise your Metro Pacific warrants and earn 335%
December 12, 2007
Metro Pacific Corporation (Stock Code: MPI) announced that its stock warrants acquired through tender offer or purchased in the open market can now be exercised and converted to MPI common shares.
The stock warrants, issued on October 23, 2006, can be converted to MPI common stock at a price of P1.00 per share until December 14.
With MPI’s stock closing at P4.35 on December 12, if you converted those warrants, you are are technically earning P3.35 per share or 335% from the conversion price. That, however, is still gross of associated fees, taxes, and the warrant acquisition cost.
Cebu Pacific operator to IPO in 2008
December 7, 2007
The Securities and Exchange Commission (SEC) of the Philippines has approved the initial public offering (IPO) of Cebu Air, Inc., the operator of local air carrier Cebu Pacific.
The company revealed that up to 72 million new shares and up to 63.4 million secondary shares will be offered to the public at a maximum price of P95.00 per share. The final offering price will be announced later.
Representatives disclosed that the Cebu Air IPO is expected to occur in 2008. Proceeds will be used to buy new aircraft and spare engines, for working capital and for other general corporate purposes.
Discuss this Initial Public Offering in the IPO Discussion, News and Updates thread in the PMT Forum.
Oriental Peninsula IPO price is P2.68
December 7, 2007
Nickel miner Oriental Peninsula Resources Group announced that its initial public offering (IPO) price is P2.68 per share.
Oriental Peninsula is selling up to 300 million common shares, representing 20% of its authorized capital stock. The offering runs from December 6 until December 12.
The stock is expected to start trading at the Philippine Stock Exchange on December 18.
Oriental Peninsula is a company currently involved in two nickel mining projects in Palawan. It aims to raise P804 million from the IPO which it plans to use for capital expenditures and to augment working capital requirements.
Discuss this Initial Public Offering in the IPO Discussion, News and Updates thread in the PMT Forum.Â
eTelecare to list 28.9M shares on Nov. 20
November 19, 2007
Philippine-based business process outsourcing company eTelecare is set to list 28.9 million shares on the Philippine Stock Exchange on Tuesday, November 20.
eTelecare Global Solutions (Stock Code: ETEL) will list its initial shares by way of introduction or without the need for an initial public offering (IPO).
The shares have a par value of P2.00 and the opening price will be based on the closing price of ETEL’s American Depository Receipts (ADR) at the NASDAQ on the trading day prior to the listing date.
PSE Update: Listing of additional TKC shares moved
November 19, 2007
The follow-on public offering (listing of additional shares) of TKC Steel Corporation (Stock Code: TKC) has been moved from November 21, Wednesday, to November 23, Friday and, consequently, the suspension on the trading of current shares is extended to November 22, Thursday.
Normal trading of TKC shares resumes on November 23.
Stocks Basics 3: How much do I need to invest in the stock market?
November 13, 2007
What is the minimum amount needed to invest in the stock market?
Trading stocks is done though board lot or round lot system, which means there is a minimum number of shares one can buy or sell at a specific price range.
Therefore, the minimum amount needed to invest in the stock market varies and will depend on the market price of the stock as well as its corresponding board lot. The board lot differs as the price of stocks move through a scale of minimum fluctuations.
The Philippine Stock Exchange uses the following Board Lot Table:
| Price | Minimum Fluctuations | Board Lot |
|---|---|---|
| 0.001 - 0.0024 | 0.0002 | 1,000,000 |
| 0.0026 - 0.0050 | 0.0002 | 1,000,000 |
| 0.0055 - 0.0100 | 0.0005 | 1,000,000 |
| 0.0110 - 0.0250 | 0.001 | 100,000 |
| 0.0260 - 0.0500 | 0.001 | 100,000 |
| 0.0525 - 0.1000 | 0.0025 | 100,000 |
| 0.105 - 0.2500 | 0.005 | 10,000 |
| 0.2600 - 0.5000 | 0.01 | 10,000 |
| 0.5100 - 1.000 | 0.01 | 10,000 |
| 1.020 - 2.500 | 0.02 | 1,000 |
| 2.550 - 5.000 | 0.05 | 1,000 |
| 5.10 - 10.00 | 0.10 | 1,000 |
| 10.25 - 25.00 | 0.25 | 100 |
| 25.50 - 50.00 | 0.50 | 100 |
| 50.50 - 100.00 | 0.50 | 100 |
| 101.00 - 250.00 | 1.00 | 10 |
| 252.50 - 500.00 | 2.50 | 10 |
| 505.00 - up | 5.00 | 10 |
Philippine stocks finish 0.4% up on volatile trading
November 6, 2007
The Philippine composite index closed yesterday higher by 15.84 points or 0.4% at 3,774.81.
Investors, returning from a four-day break last week, remained on the sidelines weighing issues such as inflation and the continuing concerns in the US economy amid rising oil prices.
But hopes that the Bangko Sentral ng Pilipinas (Central Bank) will soon cut key interest rates in response to the US Federal Reserve rate cut supported the market.
On Wednesday last week, the Federal Reserve cut its benchmark rate by 25 basis points, but said inflation remained a concern, which analysts took as a signal that the Fed will temporarily defer further rate cuts.
Here are the top 10 gainers and losers in the Philippine stock market yesterday (November 5, 2007).
(Oct. 15-19 Stocks Update) PSEi lower due to US concerns, rising oil prices
October 22, 2007
The Philippine stock market lost its early momentum last week and closed 0.12% lower at 3,819.75 following the growing uneasiness over the US economy and rising oil prices.
On Monday, October 15, investors snapped up stocks after returning from a 3-day weekend, with the composite index (PSEi) finishing at 3,861.38, nearly 1% higher from the previous week’s close.
Investor sentiment dampened during the week, however, as oil prices became volatile and concerns over the US economy continued.
Week-to-week and Year-to-Date (YTD, i.e., beginning of the year until this week) performances of the Philippine equity sectors are as follows:
(Legend:) Market Sector : Week’s Closing ; 1-Week Change ; YTD change
- PSEi : 3,819.75 ; -0.12% ; 28.07%
- All Shares Index : 2,388.18 ; -0.21% ; 28.37%
- Financial Sector : 966.81 ; -2.22% ; 17.50%
- Industrial Sector : 4,746.99 ; -0.94% ; 20.47%
- Holding Firms Sector : 2,143.05 ; -2.05% ; 23.78%
- Property Sector : 1,774.01 ; 2.58% ; 38.14%
- Services Sector : 1,879.82 ; 1.03% ; 26.08%
- Mining and Oil Sector : 8,203.46 ; 7.08% ; 81.18%
Here are last week’s top 10 gainers and losers.
iRemit stock price up 17.5% on first trading day
October 18, 2007
Repeating the GMA7 IPO performance on its first trading day, the stock price of money remittance firm iRemit Inc. bucked the trend and closed 17.5% higher at P5.50 while the Philippine bourse ended lower for the second straight day.
iRemit (I-Remit), with stock code "I", ended 82 centavos higher from its initial public offering (IPO) price of P4.68. It hit a high of P5.90.
The Philippine composite index, however, was down 55.18 points or 1.5% at a two-week low of 3,760.04. The broader all-share index fell 29.64 points or 1.2% to 2,364.69.
Decliners swamped gainers, 90 to 29, with 53 stocks unchanged.
iRemit is the largest Filipino-owned non-bank remittance company in the Philippines. The P658 million proceeds from the IPO is expected to be used to finance expansion in existing and new markets, augment working capital requirements, and retire some of the company’s short-term debts.
Philippine Stock Exchange revises index composition
October 17, 2007
Effective November 16, geothermal power producer PNOC Energy Development Corp. and property developers Robinsons Land Corp. and Filinvest Land Inc. will become the new inclusions in the Philippine Stock Exchange Composite Index (PSEi) following the completion of PSE’s semi-annual review of its indices.
As a result of the same review, Manila Mining Corp. and Security Bank will be excluded from the main index.
The PSE Composite Index or PSEi, previously called Phisix, is composed of a fixed basket of 30 listed common stocks selected to represent general movement of market prices. The PSEi is one of the indicators on the general state of the Philippine economy.
To be eligible in the PSEi, companies must meet the following during the review period:
- Free float level of at least 10%
- Liquidity or average daily trading value of at least P5 million
- Volume turnover ratio of at least 10%
- Tradability of at least 95% of the total trading days
- Free float market capitalization
To be eligible in the sector indices, companies must meet the following during the review period:
- Liquidity or average daily trading value of at least P1 million
- Tradability of at least 75% of the total trading days
Listed companies comprising the new PSEi and sector indices below.
