One of the country’s largest conglomerates, Ayala Corporation (AC), is set to raise up to P10 billion through the issuance of Class B Preferred Shares.
Ayala Corp. announced it is issuing 20 million Class B Preferred Shares at a maximum price of P500 per share. The offering period runs from November 4 to 8.
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.
