A micro-finance company quietly debuted on the Philippine Stock Exchange on August 13, with its stock price slightly increasing by 0.92% versus its IPO price.
AG Finance Inc. (stock code: AGF), the third company to conduct an Initial Public Offering (IPO) this year, is in the business of providing consumer loans, particularly to Overseas Filipino Workers (OFW) and salaried employees.
Discovery World Corp., the company that owns and manages, among others, the upscale hotels Discovery Shores in Boracay and Discovery Suites in Ortigas, is set to offer to the public for the first time its shares, after the Philippine Stock Exchange recently approved its IPO application.
Food and beverage maker Del Monte Pacific Ltd., owner of the Del Monte and Today’s brands of pineapple, tomato and mixed-fruit products, started trading on the Philippine Stock Exchange (PSE) today and closed at P27.20, down 8.72% from its initial listing price of P29.80.
DMPL shares hit an intra-day high of P30.00 and a low of P26.55 before closing at P27.20 on its first trading day.
The company got approval from the PSE to offer its shares to the public but not through the traditional way of Initial Public Offering but through the alternative Way of Introduction.
Despite a slowdown in the Philippine stock market on Friday, May 17, the stock of Asia United Bank (AUB) bucked the trend and ended on a high note, closing at P104.00 on its first trading day.
In its market debut, AUB gained 9.5% compared to its offer price of P95.00. That means if you bought 100 shares of AUB during the offer period (amounting to P9,500.00), your money has grown from P9,500.00 to P10,402.50 in just one day.
The Rebisco-owned bank, Asia United Bank (AUB), will be the second bank and the second company this year to have an initial public offering (IPO).
The bank recently announced that it will be offering more than 88 million shares to the public for the first time, priced at P95 per share.
The first initial public offering (IPO) the year yielded a one-day gain of 15.40% for those who bought the Philippine Business Bank (PBB) stock during its offer period.
Yesterday, February 19, marked the first day of listing and trading on the Philippine Stock Exchange of Philippine Business Bank, a thrift bank owned by the family of former Ambassador Alfredo M. Yao, also the owners of budget airline Zest Air and fruit juice drink Zest-O.
Last year we reported that the Zest-O group’s savings bank Philippine Business Bank (PBB) has filed for application with the Philippine Stock Exchange (PSE) to conduct an initial public offering. Recent reports show that the PSE has approved the bank’s application and the IPO will push through this February 2013.
Those expecting to make a huge profit from the initial public offering of D&L Industries (stock code: DNL) might have to wait longer, after the DNL stock fizzled in the local stock market weeks after its IPO.
