(TradingMarkets.com)
Leading online gaming publisher IP E-Game Ventures Inc. (IP E-Games), a subsidiary of publicly listed technology firm IPVG Corporation (PSE:IP), is now a member of the Philippines bourse following listing ceremonies at the Philippine Stock Exchange (PSE) Wednesday.
The stock will trade on the PSE under the symbol EG.
The listing ceremony comes after IP E-Games secured approval from PSE last Feb. 1 for the initial listing by way of introduction of 33,545,554 common shares, under the Second Board of the PSE, at an indicative reference opening price of P50 per share.
In a ceremony held at the trading floor of PSE trading floor in Ayala, Makati City, IP E-Games chief executive officer Enrique Y. Gonzalez sounded the PSE opening bell at 9:30 am to mark its debut as a publicly listed company.
IP E-Games is one of the leading online game publishers in the Philippines, with over 11 million registered gamers all over the country as of the end of 2009.
IP E-Games offers a portfolio of online games, including massively multi-player online role-playing games (MMORPGs) and casual online games.
Click here to read more...
Thursday, February 18, 2010
Roundup: Philippine stocks close lower Thursday on profit taking
(TradingMarkets.com)
The Philippine market failed to hold on to the 3,000 territory on Thursday after investors decided to book their gains after the local equity's six-consecutive rally.
The bellwether Philippine Stock Exchange index retreated by 0. 62 percent or 18.73 points to 2,999.94, while the all share index lost 0.24 percent or 4.74 points to 1,903.40.
Only few investors participated resulting to a thin volume of only 790 million shares worth 2.16 billion pesos (46.75 million U. S. dollars). Foreign buyers nonetheless beat sellers 918 million pesos (19.87 million U.S. dollars) versus 640 million pesos (13.85 million U.S. dollars), respectively.
Profit takers dominated buyers 68 to 41 while 53 issues were unchanged.
Of the six counters, only the property counter bucked the decline. Mining and oil issues meanwhile lost the most, going down by 2.45 percent or 246.97 points to 9,820.12.
Click here to read more...
The Philippine market failed to hold on to the 3,000 territory on Thursday after investors decided to book their gains after the local equity's six-consecutive rally.
The bellwether Philippine Stock Exchange index retreated by 0. 62 percent or 18.73 points to 2,999.94, while the all share index lost 0.24 percent or 4.74 points to 1,903.40.
Only few investors participated resulting to a thin volume of only 790 million shares worth 2.16 billion pesos (46.75 million U. S. dollars). Foreign buyers nonetheless beat sellers 918 million pesos (19.87 million U.S. dollars) versus 640 million pesos (13.85 million U.S. dollars), respectively.
Profit takers dominated buyers 68 to 41 while 53 issues were unchanged.
Of the six counters, only the property counter bucked the decline. Mining and oil issues meanwhile lost the most, going down by 2.45 percent or 246.97 points to 9,820.12.
Click here to read more...
Wednesday, February 17, 2010
Online gaming firm’s share price surges ahead of planned IPO
MANILA, Philippines—The share price of leading online gaming firm IP e-GAMES Ventures Inc. hit the roof on its listing debut at the Philippine Stock Exchange on Wednesday ahead of a targeted initial public offering (IPO) later this year.
In a press briefing after the listing ceremony, IP E-Games chief executive Enrique Gonzales said the listing by way of introduction - or without any IPO - had given the gaming publisher access to the capital markets and established a clear valuation of shares for future fund-raising.
IP e-Games - which started trading under the ticker "EG" - saw its share price surging by 50 percent, the maximum daily price increase allowed in the local stock market, to close at P75 per share from an opening price of P50 per share. Some 803 million worth of shares were traded worth about P60 million.
At its closing price, the company had a market capitalization of P1.67 billion. About 33.54 million IP e-Games shares were listed on the PSE's second board, a platform for companies with a "potential for superior growth" , an operating history of at least one year prior to its listing and a minimum capitalization of at least P250 million.
RP stocks up on revived bargain-hunting
MANILA, Philippines – Local stocks rallied on Wednesday, allowing the main stock index to climb back to the crucial 3,000 mark, as investors were reinvigorated by fresh indicators that the global economy was gaining ground.
The main-share Philippine Stock Exchange index racked up 50.96 additional points or 1.72 percent to close at 3,018.67 as an upbeat trading in Wall Street revived the bargain-hunting momentum across all counters.
The rally was led by the property and holding firm counters which surged by 2.37 percent and 2.25 percent, respectively.
Value turnover at the local bourse increased to P3.56 billion, lifting the prices of 68 listed stocks. On the other hand, there were 45 decliners and 57 unchanged stocks.
Click here to read more...
Tuesday, February 16, 2010
Roundup: Philippine stock market rallies amidst lack of leads on bargain hunting
(TradingMarkets.com)
The Philippine stock market rallied for the fifth time on Tuesday amidst lack of leads on continued bargain hunting.
The benchmark Philippine Stock Exchange index gained 0.15 percent or 4.47 points to 2,967.71, while the all share index rose by 0.01 percent or 0.37 points to 1,884.82.
Trading was thin where only 1.32 billion shares worth 2.29 billion pesos (49.46 million U.S. dollars) were changed hands. Foreign buyers beat sellers 570 million pesos (12.31 million U.S. dollars) versus 525 million pesos (11.34 million U.S. dollars), respectively.
Market breadth was positive where 59 stocks rose and only 53 tumbled. A total of 46 issues were unchanged.
Two of the six counters closed lower. Industrial and the service sector tumbled by 0.07 percent and 3.32 points to 4,558.36 and 0.29 percent or 4.37 points to 1,477.43, respectively.
Holding firms meanwhile climbed the most and was up by 1.46 percent or 14.46 points to 998.57.
Click here to read more...
The Philippine stock market rallied for the fifth time on Tuesday amidst lack of leads on continued bargain hunting.
The benchmark Philippine Stock Exchange index gained 0.15 percent or 4.47 points to 2,967.71, while the all share index rose by 0.01 percent or 0.37 points to 1,884.82.
Trading was thin where only 1.32 billion shares worth 2.29 billion pesos (49.46 million U.S. dollars) were changed hands. Foreign buyers beat sellers 570 million pesos (12.31 million U.S. dollars) versus 525 million pesos (11.34 million U.S. dollars), respectively.
Market breadth was positive where 59 stocks rose and only 53 tumbled. A total of 46 issues were unchanged.
Two of the six counters closed lower. Industrial and the service sector tumbled by 0.07 percent and 3.32 points to 4,558.36 and 0.29 percent or 4.37 points to 1,477.43, respectively.
Holding firms meanwhile climbed the most and was up by 1.46 percent or 14.46 points to 998.57.
Click here to read more...
Monday, February 15, 2010
Philippine stocks post modest gain
MANILA, Philippines—LOCAL stocks modestly gained on Monday, the first business day of the "Year of the Metal Tiger" under the Chinese Lunar calendar, on follow-through buying from last week's strong recovery.
The main-share Philippine Stock Exchange index rose by 13.59 points or 0.46 percent to close at 2, 963.24 as bargain-hunting benefited all sectors except for the property counter.
The gains were led by the mining/oil, industrial and holding firms whose indices went up by 2.2 percent, 1.3 percent and 1.08 percent, respectively.
There were 56 advancers as against 43 decliners and 60 unchanged stocks at a relatively thin value turnout of P2.1 billion.
Click here to read more...
Tuesday, February 9, 2010
Roundup: Philippine stocks close to its four-month low Tuesday
(TradingMarkets.com)
The Philippine stock market closed to its four-month low on Tuesday, tracking mostly the performance of the U.S. market which succumbed to continued concerns over the debt of the euro zone.
The main-share Philippine Stock Exchange index lost 1.72 percent or 48.99 points to 2,797.61, while the all share index retreated by 1.33 percent, or 24.37 points, to 1,799.12. The last time the bellwether touched the said level was still on Sept. 28 when it ended at 2,784.65.
Trading was slim where only 884 issues valued at 3.27 billion pesos (70.28 million U.S. dollars) were changed hands. Foreign investors were net buyers at 345 million pesos (7.41 million U.S. dollars).
Market breadth continues to be negative with 95 issues slipping and only 19 stocks closing higher. A total of 40 stocks meanwhile did not move.
All six counters fell, led by mining and oil stocks which tumbled by 3.26 percent or 303.66 points to 8,955.64.
"The local market has again tracked its overseas counterpart. The euro crisis is further aggravated by U.S. President Barack Obama's plan to curb the risky activities of the banks and both developments are sending jitters to the global market," said Emmanuel Soller of Equitiworld Securities Inc..
Click here to read more...
The Philippine stock market closed to its four-month low on Tuesday, tracking mostly the performance of the U.S. market which succumbed to continued concerns over the debt of the euro zone.
The main-share Philippine Stock Exchange index lost 1.72 percent or 48.99 points to 2,797.61, while the all share index retreated by 1.33 percent, or 24.37 points, to 1,799.12. The last time the bellwether touched the said level was still on Sept. 28 when it ended at 2,784.65.
Trading was slim where only 884 issues valued at 3.27 billion pesos (70.28 million U.S. dollars) were changed hands. Foreign investors were net buyers at 345 million pesos (7.41 million U.S. dollars).
Market breadth continues to be negative with 95 issues slipping and only 19 stocks closing higher. A total of 40 stocks meanwhile did not move.
All six counters fell, led by mining and oil stocks which tumbled by 3.26 percent or 303.66 points to 8,955.64.
"The local market has again tracked its overseas counterpart. The euro crisis is further aggravated by U.S. President Barack Obama's plan to curb the risky activities of the banks and both developments are sending jitters to the global market," said Emmanuel Soller of Equitiworld Securities Inc..
Click here to read more...
Metro Pacific, PLDT to fuse Meralco shares
(Written by Miguel R. Camus / Reporter - Business Mirror)
HONG KONG-based conglomerate First Pacific Co. Ltd. is planning to consolidate its combined 34.7-percent stake in Manila Electric Co. (Meralco) under a new holding firm. The shares are currently held by subsidiaries Metro Pacific Investments Corp. and Philippine Long Distance Telephone Co. (PLDT)
First Pacific, led by businessman Manuel V. Pangilinan, is the parent company of listed infrastructure firm Metro Pacific and the single largest shareholder of PLDT.
In separate filings to the local stock exchange on Monday, Metro Pacific and PLDT unit Pilipino Telephone Corp. (Piltel) said they are in talks for a proposed “combination and reorganization of their respective shareholdings in Meralco.”
A Metro Pacific executive said the new company—which is still unnamed at this point—will be jointly held by Metro Pacific and Piltel. The executive, who requested anonymity, noted that “nothing is final for now.”
At present, First Pacific’s holdings in Meralco are split between Metro Pacific (14.7 percent) and Piltel (20 percent).
Monday, February 8, 2010
PNB posts P2.2 billion net income in 2009
(philstar.com)
MANILA, Philippines (Xinhua) – Philippine National Bank, the country's fourth biggest lender in terms of assets, posted a net income of P2.2 billion in 2009, up 100 percent from 2008, on sustained growth in its lending business and improved asset quality.
In a disclosure sent today to the Philippine Stock Exchange, PNB officials said the bank's net income rose 11 percent on increased lending activities.
PNB was lead or co-arranger of several landmark deals in telecommunications, energy and infrastructure sectors. Intensified promotional campaigns boost its consumer lending.
PNB's loans and receivables increased 14 percent. Deposits rose 7 percent to P215 billion as the company expanded its deposit products, providing clients with more options to grow their money. These products include deposit certificates, and medium-term dollar, peso and renminbi time deposits.
Click here to read more...
MANILA, Philippines (Xinhua) – Philippine National Bank, the country's fourth biggest lender in terms of assets, posted a net income of P2.2 billion in 2009, up 100 percent from 2008, on sustained growth in its lending business and improved asset quality.
In a disclosure sent today to the Philippine Stock Exchange, PNB officials said the bank's net income rose 11 percent on increased lending activities.
PNB was lead or co-arranger of several landmark deals in telecommunications, energy and infrastructure sectors. Intensified promotional campaigns boost its consumer lending.
PNB's loans and receivables increased 14 percent. Deposits rose 7 percent to P215 billion as the company expanded its deposit products, providing clients with more options to grow their money. These products include deposit certificates, and medium-term dollar, peso and renminbi time deposits.
Click here to read more...
Globe Asiatique May Delay Philippine IPO, Bank Says (Update1)
(By Ian Sayson)
Feb. 8 (Bloomberg) -- Globe Asiatique Realty Holdings Corp. may postpone the biggest Philippine initial share sale in 21 months because of a delay in completing the developer’s financial statements.
Globe Asiatique, a builder of homes and residential towers, said in a regulatory filing in December it plans to raise as much as 3.39 billion pesos ($73 million) by selling as many as 339.2 million shares for 6.50 pesos to 10 pesos a share in the first quarter of 2010. That would be the Philippine Stock Exchange’s biggest initial public offering since May 2008, when San Miguel Brewery Inc. sold 6.16 billion pesos of shares.
“We may not be able to do it because there is a delay in the preparation of the financial statements for December,” Eduardo Francisco, president of Manila-based BDO Capital & Investment Corp., said in a phone interview. “If the statements get delayed by a month, then the next window for the sale could be in a month or two.”
The benchmark Philippine Stock Exchange Index has declined 6.8 percent this year as the government started to unwind stimulus policies that softened the impact of the global recession. The measures -- including a reduction in the central bank’s overnight rates to the lowest since 1990 -- boosted the index by 63 percent in 2009, the biggest gain in 16 years.
“There is rising risk aversion towards equities at the moment, so a share sale might not get a warm reception now,” said Olan Caperina, who helps manage $9.7 billion at Bank of the Philippine Islands. “Property companies are also being sold down and most are trading at low price-to-book multiples.”
Sunday, February 7, 2010
PhilWeb to enter mobile lotto gaming
(Written by Miguel Camus- BusinessMirror)
LISTED online gaming company PhilWeb Corp. is continuing its aggressive expansion, this time into mobile lotto games through a newly created P1-billion subsidiary.
The new firm—PhilWeb Mobile Lottery Corp.—will be the company’s vehicle to operate mobile-based lottery games as well as other related mobile game offerings.
PhilWeb, which is controlled by former trade minister Robert V. Ongpin, subscribed to P127.49 million worth of shares while PhilWeb president Dennis Valdes took another P122.5 million.
The new firm is seen to provide an additional revenue stream for PhilWeb as well as create synergies with other units which include the recently acquired Acentic GmbH, a European hotel information technology provider.
PhilWeb generates the bulk of its revenues providing technical, marketing and cash management services to Philippine Amusement and Gaming Corp.’s more than 150 e-Games Cafés in the country.
Thursday, February 4, 2010
Roundup: Philippine stocks outperform Asian counterparts on Thursday's trading
(Trading Markets.com)
Philippine market bucked the lackluster performance of most of the Asian markets on Thursday.
The bellwether Philippine Stock Exchange index rose by 1.04 percent or 30.06 points to close at 2,914.87 on Thursday, while the all share index gained 0.76 percent or 14.06 points to 1,853. 78.
Trading remains low where only 932 billion shares worth 2.18 billion pesos were changed hands. Foreign buyers beat sellers with 162 million pesos.
Of the six counters, only the service sector closed lower. Industrial shares meanwhile rallied the most, climbing by 2.21 percent or 96.36 points to 4,444.02. Market breadth was positive where a total of 69 issues gained as oppose to the 34 stocks that declined. A total of 54 stocks meanwhile did not move.
"A follow-through support was visible Thursday given the improving indicators overseas. Part of the boost emanated from the European Union's support on Greece's budget deficit reduction plan, pacifying earlier concerns the nation might require a bailout plan from the European block," online brokerage 2TradeAsia.com said.
Click here to read more...
Philippine market bucked the lackluster performance of most of the Asian markets on Thursday.
The bellwether Philippine Stock Exchange index rose by 1.04 percent or 30.06 points to close at 2,914.87 on Thursday, while the all share index gained 0.76 percent or 14.06 points to 1,853. 78.
Trading remains low where only 932 billion shares worth 2.18 billion pesos were changed hands. Foreign buyers beat sellers with 162 million pesos.
Of the six counters, only the service sector closed lower. Industrial shares meanwhile rallied the most, climbing by 2.21 percent or 96.36 points to 4,444.02. Market breadth was positive where a total of 69 issues gained as oppose to the 34 stocks that declined. A total of 54 stocks meanwhile did not move.
"A follow-through support was visible Thursday given the improving indicators overseas. Part of the boost emanated from the European Union's support on Greece's budget deficit reduction plan, pacifying earlier concerns the nation might require a bailout plan from the European block," online brokerage 2TradeAsia.com said.
Click here to read more...
PHILIPPINES RFM POSTS NET INCOME OF US$8 MLN FOR 2009
(Trading Markets.com)
Food and beverage company RFM Corporation PSE:RFM), in its disclosure to the Philippine Stock Exchange, reported a net income of P365 million (US$8 million) for 2009, an increase of 49 per cent from P245 million (US$5.3 million) netted the previous year.
The food giant reported its financial performance for the year, with net sales registering at P7.97 billion, up six per cent over P7.55 billion in 2008. Operating income came in at over P613 million in 2009.
RFM president and chief operating officer Jose Concepcion credited the strong performance to better gross margins as major raw materials cost softened towards the second half of the year.
He also attributed the company's lower-cost operating platform to the transfer to more integrated, modern and efficient production facilities for its pasta, beverage and meat products.
Concepcion, who is also the founder of the Go Negosyo advocacy, a lead proponent in the push towards a positive and enterprising mindset among Filipinos, continued to express optimism and confidence in RFM moving forward.
Click here to read more...
Food and beverage company RFM Corporation PSE:RFM), in its disclosure to the Philippine Stock Exchange, reported a net income of P365 million (US$8 million) for 2009, an increase of 49 per cent from P245 million (US$5.3 million) netted the previous year.
The food giant reported its financial performance for the year, with net sales registering at P7.97 billion, up six per cent over P7.55 billion in 2008. Operating income came in at over P613 million in 2009.
RFM president and chief operating officer Jose Concepcion credited the strong performance to better gross margins as major raw materials cost softened towards the second half of the year.
He also attributed the company's lower-cost operating platform to the transfer to more integrated, modern and efficient production facilities for its pasta, beverage and meat products.
Concepcion, who is also the founder of the Go Negosyo advocacy, a lead proponent in the push towards a positive and enterprising mindset among Filipinos, continued to express optimism and confidence in RFM moving forward.
Click here to read more...
Wednesday, February 3, 2010
Bargain hunting lifts RP stocks Wednesday
(philstar.com)
MANILA, Philippines (Xinhua) - The Philippine stock market ended higher Wednesday as bargain hunting ensued following recent weakness in the local bourse.
The benchmark Philippine Stock Exchange index gained 0.72 percent or 20.63 points to 2,884.81, while the all share index rose by 0.5 percent or 9.17 points to 1,839.72.
Decliners outnumber gainers at 55 to 49. A total of 55 shares were unchanged. Stocks in the 30-company index improved their valuations.
Share prices of Manila Electric Co., the Philippines' largest power distributor, rose by 3.24 percent. Other issues that went up include heavyweight Philippine Long Distance Telephone Co. and Banco de Oro Unibank, Inc.
Three of the six sectors - property, financials and mining and oil stocks - extended their decline. Holding firms rose by 2.11 percent or 32.17 points to 1,553.77.
Click here to read more...
MANILA, Philippines (Xinhua) - The Philippine stock market ended higher Wednesday as bargain hunting ensued following recent weakness in the local bourse.
The benchmark Philippine Stock Exchange index gained 0.72 percent or 20.63 points to 2,884.81, while the all share index rose by 0.5 percent or 9.17 points to 1,839.72.
Decliners outnumber gainers at 55 to 49. A total of 55 shares were unchanged. Stocks in the 30-company index improved their valuations.
Share prices of Manila Electric Co., the Philippines' largest power distributor, rose by 3.24 percent. Other issues that went up include heavyweight Philippine Long Distance Telephone Co. and Banco de Oro Unibank, Inc.
Three of the six sectors - property, financials and mining and oil stocks - extended their decline. Holding firms rose by 2.11 percent or 32.17 points to 1,553.77.
Click here to read more...
Tuesday, February 2, 2010
RP stocks dip 0.66% on global, local uncertainties
MANILA, Philippines – Local stocks continued to dip on Tuesday as investors either cut losses or locked in gains amid lingering global and domestic uncertainties.
The main-share Philippine Stock Exchange index lost 19.03 points or 0.66 percent to close at 2,864.18.
Some late-session bargain-hunting, inspired by an overnight rebound in Wall Street, trimmed the day's losses.
There were 88 decliners against 27 gainers and 48 unchanged stocks at a value turnover of P2.33 billion. Click here to read more...
Monday, February 1, 2010
PSE approves IPVG unit's listing by way of intro
( abs-cbnNEWS.com )
MANILA, Philippines - The Philippine Stock Exchange has approved the listing of IPVG Corp.'s gaming unit by way of introduction.
IP E-Game Ventures Inc. will list 33.54 million common shares on the PSE's second board at an indicative opening price of P50 per share.
IPVG said the subsidiary obtained the exchange's approval to list by way of introduction since its shares are already issued and widely held.
Listing by way of introduction will allow IP E-Games shares to be listed and traded in the bourse without raising capital through an initial public offering (IPO). But under the rules, the company must conduct an IPO within 12 months from its listing date.
IP E-Game chief executive officer Enrique Gonzalez said the company will be the first local online game publisher to be listed in the PSE. Click here to read more...
MANILA, Philippines - The Philippine Stock Exchange has approved the listing of IPVG Corp.'s gaming unit by way of introduction.
IP E-Game Ventures Inc. will list 33.54 million common shares on the PSE's second board at an indicative opening price of P50 per share.
IPVG said the subsidiary obtained the exchange's approval to list by way of introduction since its shares are already issued and widely held.
Listing by way of introduction will allow IP E-Games shares to be listed and traded in the bourse without raising capital through an initial public offering (IPO). But under the rules, the company must conduct an IPO within 12 months from its listing date.
IP E-Game chief executive officer Enrique Gonzalez said the company will be the first local online game publisher to be listed in the PSE. Click here to read more...
RP stocks tumble, mirror Wall Street’s poor show
(Norman P. Aquino, GMANews.TV)
Local share prices tumbled on the first trading day of the month, largely swayed by Wall Street's disappointing performance last Friday as investors questioned the US economy's ability to sustain growth.
The Philippine Stock Exchange index plummeted by 2.37 percent or 69.98 points to 2,883.21, in a sell-off where almost P7 billion worth of stocks were traded. Subindices dropped across the board.
It was the lowest close in three months and the biggest percentage decline in five-and-a-half months.
"The US economy is still unstable right now because investors are quite disappointed with the status of the banking industry," analyst Emmanuel Soller of Equitiworld Securities, Inc. said in an interview.
Soller noted that stocks usually perform well in January and February, but local equities have been suffering because of jitters on Wall Street. Most of the fund managers that invest in local stocks are Americans, he pointed out.
Click here to read more...
Local share prices tumbled on the first trading day of the month, largely swayed by Wall Street's disappointing performance last Friday as investors questioned the US economy's ability to sustain growth.
The Philippine Stock Exchange index plummeted by 2.37 percent or 69.98 points to 2,883.21, in a sell-off where almost P7 billion worth of stocks were traded. Subindices dropped across the board.
It was the lowest close in three months and the biggest percentage decline in five-and-a-half months.
"The US economy is still unstable right now because investors are quite disappointed with the status of the banking industry," analyst Emmanuel Soller of Equitiworld Securities, Inc. said in an interview.
Soller noted that stocks usually perform well in January and February, but local equities have been suffering because of jitters on Wall Street. Most of the fund managers that invest in local stocks are Americans, he pointed out.
Click here to read more...
Subscribe to:
Posts (Atom)