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.
Those holding Cebu Pacific (CEB) stocks are probably wondering what’s causing the stock to plummet during the past trading days. In just one week, the stock price of budget airline Cebu Pacific has declined by 9.3%, closing at P61.40 in last Friday’s (August 24) trading.
It’s actually been a losing battle for CEB stockholders since the company’s hyped initial public offering (IPO) in 2010. On its first trading day on the Philippine Stock Exchange (PSE) in October 2010, Cebu Pacific rose to P133.00 from its IPO price of P125.00. Unfortunately, the stock has not recovered from that all-time high price. It even ended the year 2011 at half the price, closing at P64.80 on the last trading day.
