LinkedIn, a social networking site for professionals, went public yesterday and, at the end of its first trading day, the stock registered a 109% increase over its initial public offering (IPO) price.
The company’s stock (LNKD) closed at $94.25 on its first trading day, up 109% over the IPO issuance price of $45. It reached a high of $122.70, a 173% increase.
After a voluntary trading suspension request yesterday, the shares of Lepanto Consolidated Mining Company (LC / LCB), Philex Mining Corporation (PX), and Manila Mining Corporation (MA / MAB) will resume trading today, following a disclosure announcement that PX is entering into a joint venture with Manila Mining in the exploration and development of the Kalayaan Project in Placer, Surigao del Norte.
The trading of shares of mining companies Lepanto Consolidated Mining Company (LC / LCB), Philex Mining Corporation (PX), and Manila Mining Corporation (MA / MAB) were suspended today, following a voluntary trading suspension request from the said mining firms.
In a disclosure submitted to the Philippine Stock Exchange (PSE) on May 11, the three companies separately requested that the trading of their shares be suspended. Interestingly, though, the letters contain exactly the same phrasing.
Their individual letters state that Lepanto, Philex and Manila Mining “intend to make a material disclosure within the next two days and request that trading of shares be suspended immediately, to be resumed after [the company] shall have made the disclosure.”
In 2009, we reported the Top Performing Stock Markets in the world. In that list, Sri Lanka’s Colombo Stock Exchange led the pack, locking in a 125% overall return in just one year. Yup, 125% — which means if you invested in the Sri Lankan stock market, you would have earned more than double your money within one year.
In 2010, Sri Lanka’s astounding performance continued. It again ranked number 1 in the list of the best performing stocks in the world. It registered a 96.0% full-year return, again almost doubling investments in one year.
If for example, you invested $100,000 in the Colombo Stock Exchange at the start of 2009, this amount is now worth $441,000 at the end of 2010. That’s a lot of money earned in just two years.
I recently subscribed to the 1:2 Stock Rights Offering of Robinsons Land Corporation (RLC). As a current stockholder, I was entitled to one (1) rights share for every two (2) common shares owned.
The rights offering was RLC’s way of raising additional capital. By issuing up to 1.364 billion common shares at P10 per share, the company is expected to raise as much as P13.6 billion.
What are Stock Rights?
Stock rights are basically the right to purchase additional shares of the company. This right is only given to existing shareholders as of the ex-date, and is not available to non-stockholders. It is a company’s way of raising additional capital. In the case of RLC, the company said proceeds will be used for land acquisition, project construction and development, possible international expansion and other general corporate purposes.
Finally it happened. The Philippine Stock Exchange index (PSEi) received a much-needed boost yesterday, thanks to the news of PLDT acquiring a majority stake in Digitel.
Since the start of the year, the PSEi has been averaging a downside of 10%. Yesterday, the index jumped 2.98%, up 116.51 points to close at 4,023.74.
The market rally was led by PLDT (stock code: TEL) which gained 15.72% in one day, closing at P2,356. TEL was also yesterday’s most actively traded and top gainer stock.
Steve Jobs’ announcement of the launch of the new Apple iPad 2 last March 2 sent the Apple stock (Stock Code: AAPL) rising 0.80% to $352.12 at the close of the announcement day.
Some of you don’t know it yet, but Apple Inc. (AAPL) is already the largest tech company in the United States. Actually, it has been the largest tech company since May 2010, when it surpassed Microsoft Corporation’s market capitalization for the first time.
