Should you take part in the initial public offering (IPO) of TUGS or Harbor Star Shipping Services Inc.?
Concepcion Industrial Corp.: Initial Public Offering (IPO)
More and more companies have recently signified interest to conduct an initial public offering (IPO), taking advantage of the current upbeat outlook on the Philippines brought about by investment-grade credit rating upgrades and stable economic environment.
An initial public offering or IPO is a way for a company to raise capital, conducted through the issuance of shares to the public. It results in the listing and subsequent trading of shares on a public exchange (the Philippine Stock Exchange, in the case of the Philippines). Aside from IPO, way of introduction is another method of listing shares on the PSE.
IPO update: Resorts World Manila (Travellers Group)
After deferring its initial public offering (IPO) early this year, hotel and casino operator Travellers International Hotel Group is finally pushing through with the IPO this month.
The operator of gaming center Resorts World Manila (RWM) originally planned to conduct the IPO in July 2013 but decided to temporarily shelve it following concerns on the Federal Reserve’s tapering of the quantitative easing program.
Robinsons Retail Holdings (RRHI) IPO
The retail arm of the Robinsons Group of Companies is set to offer its shares to the public in an Initial Public Offering (IPO) scheduled this October.
The Philippine Stock Exchange (PSE) approved the IPO application of Robinsons Retail Holdings, Inc. which plans to raise up to P42 billion in said offering.
Official Philippine Holidays in 2014
Malacanang last week released the official list of Regular Holidays, Special (non-working days) and Special Holidays for next year 2014. Those looking for long weekends and planning to go on vacations may refer to the list below.
It’s going to be a long Christmas break for everyone, and it’s possible several Filipinos will take advantage of leaves to rest during this period for a total of twelve (12) days!
9 million iPhone 5s, 5c sold; Apple Inc. stock rises 5%
The stock price of Apple Inc. (AAPL) surged almost 5% on the first trading day after the high-end iPhone 5s and the multi-colored iPhone 5c were made available for sale last weekend.
Earlier today, Apple’s stock price closed at $490.64 — an increase of $23.23 or 4.97% from last Friday’s closing.
Philippine ATM bank service charges
In our original article ATM Withdrawal Fees and Balance Inquiry Charges by Philippine Banks, we lamented that gone were the days when we can simply use our ATMs without paying any service charge.
These days, it seems the ATM is not anymore a free benefit given to bank customers. Indeed most, if not all, banks now charge clients whenever they use ATMs.
Federal Reserve defers QE3 tapering to 2014
Philippine stocks are most probably gearing for a rally today following the announcement of the U.S. Federal Reserve that it will not end its Quantitative Easing program.
Earlier today, U.S. Federal Reserve Chairman Ben Bernanke said that the Fed will continue with its bond-buying program because current market conditions “are still far from what all of us would like to see”.