Buoyed by the country’s unexpected 7.1% GDP growth, Philippine stocks ended yesterday at another all-time high, closing at 5,633.72, up 0.85% from the previous day’s trading.
A new intra-day high of 5,636.33 was also recorded yesterday.
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Coal Asia Holdings, Inc., parent company of the firm with the country’s second-largest coal reserves, is planning to raise up to P800 million through an initial public offering (IPO) before the end of the year.
The company will sell 800 million common shares — representing 20% of its total issued and outstanding stock — at an offer price of P1.00, also the share’s par value.