May 7, 2013 0
Asia United Bank’s debut in the local bourse was priced at Php95 per share allowing the bank to raise Php8.36 billion from its initial public offering (IPO).
The international orderbook was oversubscribed by five times with 90 investors, 75% of which came from Asia and 25% of which came from Europe, with the equity offer lasting 3.5 days. The IPO was priced at 1.5 times the bank’s book value and indicative price range of Php80 to Php110 per share.
May 7, 2013 0
Global markets experienced a number of ups and downs this week amid a volley of economic data and corporate earnings releases.
Sentiment was mostly positive nearing the end of the week, however, as the European Central Bank announced a 25 basis point cut on policy rates so as to further help the Euro-zone’s ailing economy.
Apr 24, 2013 0
Manila Electric Co. (Meralco) posted a 19.3% growth in its net income during the first quarter to Php4.024 billion from Php3.373 billion registered in the same period a year ago.
The income growth was mainly attributed to lower costs and expenses which fell by 3% to Php59.147 billion from Php60.998 billion given the lower power purchase costs as well operating and maintenance expenses.
