Stock News 2013: Vista Land releases more shares into the market

English: A Benchmark For Stocks and Shares. A bench and the stocks, which two felons could share, on Sheriff Hutton village green (Photo credit: Wikipedia)

Property Developer Vista Land & Lifescapes, Inc. boosted the number of stocks for trading after selling all of its treasury shares for roughly P636.07 million, the Villar-led company said in a disclosure on Friday.

The transaction involved a total of 133.91 million shares sold at P4.75 apiece.

The sale increased the company’s outstanding and common shares to 8,538,740,614 from 8,404,830,614.

The Philippine Stock Exchange defines treasury shares as “shares of stock which were previously issued and fully paid, but subsequently reacquired by the issuing corporation by purchase, redemption, donation, or through some other lawful means.”

Treasury shares are non-voting, non-outstanding, and not included in dividend issuances.

A Vista Land officer said on Thursday that the company decided to sell all its treasury shares to take advantage of perceived big demand and to boost its liquidity.

http://www.bworldonline.com/content.php?section=Corporate&title=Vista-Land-releases-more-shares-into-the-market&id=63768

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Stock News 2012: Acesite declares 250% stock dividend

English: Roxas Boulevard in Manila, Philippines (Photo credit: Wikipedia)
Acesite (Philippines) Hotel Corp. recently disclosed to the Philippine Stock Exchange the declaration of a 250 percent stock dividend for stockholders of record as of June 25, 2012.

The board of directors of Acesite in a meeting held last June 11, approved the distribution of the 246,248,270 shares with par value of P1 or P246,248,270 to cover dividends declared in payment of the increase in capital stock on or before July 19, 2012.

The announcement was made by the board as part of their commitment and in appreciation of the continuing support of the investing public manifested throughout the years. “This is one way of giving back to them what they long deserved because of their faith and support to the company and its business plan,” the Board said.

Worth noting also are some milestones that were achieved by the management in solving the legal issues affecting the ownership of the land where the hotel is located, as well as the servicing of the loans that are now significantly reduced when the Gatchalian group took over.

Rennovations and ongoing repairs of the rooms and facilities are being undertaken to adjust to the varying and sophisticated taste of the casino players and hotel patrons, and in order to continously make the hotel world-class.

In view of this, management is very optimistic on its expansion plan and in fact, in the process of acquiring another casino-hotel along the Roxas Boulevard area to add to the growing chain of casino-hotels that includes Waterfront Cebu and Waterfront Mactan, which will cater, give more options and choices and provide world-class services and accomodations to the growing clientele of the gaming sector and industry.

http://www.philstar.com/Article.aspx?articleId=818248&publicationSubCategoryId=66

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Stock News 2011: Smc's 8-Month Income Up 70%

Image via WikipediaSan Miguel Corp. (SMC) net income rose 70 percent in the eight months through August from a year ago on acquisitions of oil-refining and power-generation assets, a person familiar with the company’s financial data said.

The Philippines’ biggest listed company also had revenue that rose by two and a half times, while earnings before interest, taxes, depreciation and amortization almost doubled, the person, who declined to be identified because the information is private, said. San Miguel last month reported first-half profit rose 72 percent to P10.8 billion.

The company that started as a brewer more than a century ago has been expanding into oil refining, power retailing and infrastructure to triple the return it previously earned from food and drinks. Oil refining unit Petron Corp. accounts for about a third of the Philippine oil market, while SMC Global Power Holdings Corp. controls 17.5 percent of the nation’s power generation capacity. The power unit plans to raise as much as P27.3 billion in an initial public offering.

San Miguel will pay a cash dividend of 35 centavos per common share and P1.50 for each Series 1 preferred stock held, it told the stock exchange today, after close of trading.

Profit in the first three quarters of 2010 was P12.7 billion, the company said in a November 2010 statement.

http://mb.com.ph/articles/335434/smcs-8month-income-up-70

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Stock News 2011: Century Properties seeks backdoor listing

Image via Wikipedia
High-end developer Century Properties is undertaking a tender offer to acquire the remaining shares of East Asia Power Resources Corporation after sealing a deal to buy 93.58 percent of the firm in order to list via the backdoor.

In a disclosure to the Philippine Stock Exchange, East Asia said Century has bought control of the company for P127.41 million and will be making a P9.12-million tender offer for the remaining public shares.

Century has acquired 1.89 percent of East Asia Power, equivalent to 67.1 million common shares from El Paso Philippines Energy Company and an indirect 91.7 percent by buying 284.25 million common and preferred shares of EPHE Philippines Energy Company.

The purchase price of these shares is equivalent to P0.038 per share but Century is offering to buy the remaining 228.11 million East Asia Power shares for P0.04 per common share.

The tender offer starts on June 3, 2011 and end on July 11, 2011 while payment will be made in cash on July 15, 2011. Venture Securities Inc. is the transaction broker.

As part of the agreement with Century, East Asia’s board has approved the sale of its dormant subsidiaries East Asian Transmission and Distribution Corporation and East Asia Power Services Inc. last May 27.

http://mb.com.ph/node/321005/century-propertie

Stock News 2011: Petron to sell new shares to fund expansion

Petron Corp., the Philippines’ biggest refiner, may sell shares to raise funds as it plans a $2 billion expansion, Chairman Ramon Ang said.

“A lot of investors have approached us, wanting to buy Petron shares,” Ang, who is also vice chairman of Petron’s controlling shareholder San Miguel Corp., said in an interview in Manila Friday. The size and schedule of the fundraising are yet to be determined, he said.

Petron, which could eventually become San Miguel’s “flagship” unit, plans to spend the $2 billion in three to four years for expansion, Ang said in a Feb. 3 interview. San Miguel, the Philippines’ biggest food and drinks company, is also planning a share sale to boost investments in energy, telecommunications and transportation.

San Miguel has been buying assets to expand in industries that could help boost its return on equity almost threefold from the 7 percent it previously earned from food and drinks. The Manila-based company may “calibrate” a planned sale of 1 billion common shares for at least 200 pesos ($4.6) each depending on market conditions, and the offering will likely be in the second quarter, Ang said.

http://www.mb.com.ph/node/307537/petron-

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Stock News 2010: Pancake converts P220-M worth of notes to 20% equity

MANILA, Philippines – Pancake House, Inc., has issued shares equivalent to 20.67 percent of its outstanding capital to two creditors through the conversion of five-year convertible notes amounting to P220.48 million.

In a disclosure to the Philippine Stock Exchange, Pancake House said this is in line with the terms of the investment agreement it signed with Aureos Southeast Asia Fund, L.L.C. and Plantersbank Venture Capital Corp. for SME's, Pancake House Holdings Inc. and Martin Lorenzo in October 21, 2005.

The firm said the remaining five-year convertible notes of the corporation issued on October 28, 2005 were mandatorily converted into 45.16 million common shares with par value of P1 per common share out of the corporation's authorized but unissued capital stock.

The shares were swapped at the conversion price of P4.485030 per common share and credited as fully paid and non assessable to Aureos (P151.9 million) and Grand Prime International Limited (P50.63 million).

The conversion of the notes to common shares resulted in Pancake House having a total issued and outstanding capital stock of P237.8 million divided into 237.8 common shares with P1 par value.

http://www.mb.com.ph/node/290279/pancake-convert

Stock News 2010: PSE implements rule requiring listed firms to have 10% minimum public ownership

Image via Wikipedia
MANILA, Philippines – The Philippine Stock Exchange (PSE) Tuesday started implementing a rule that listed companies should have a minimum public ownership of 10 percent to avoid being delisted, in an effort to improve liquidity in shares and enable the discovery of a fair price.

The move, which was approved last December following a 63 percent increase in the benchmark index in 2009, comes nearly five years after the stock market operator first scrapped a similar norm in 2005, retaining it only for initial and backdoor listings.

The weakness of the stock market in the first half of the decade forced many companies to resort to buying back shares to shore up stock prices. In the process, many companies ended up non-compliant of the minimum public ownership and faced the prospect of being delisted if the ownership limit for continuing listing wasn't dropped.

As of last November, only 71 of the 179 listed firms listed on the bourse were compliant with the minimum ownership level.

Under the PSE's amended rule, listed companies whose public ownership has fallen below 10% are given a 12-month grace period to comply with the ownership rule and are fined subsequently. If public ownership stays below the minimum level for 36 months, the firms will be delisted.

The bourse has sent out reminders to increase public stake to at least 10% of their outstanding stocks to avoid delisting.

Four companies--oil refiner Petron Corp., ship builder Keppel Philippines Marine Inc., pharmaceutical company Euro-Med Laboratories Philippines Inc. and investment holding company Manchester International Holdings Unlimited Inc.) – that had been asked to comply with the new rule have replied to the bourse's request.

In separate filings with the PSE, all four companies have pledged to take steps to meet the required public ownership.

http://www.mb.com.ph/node/290274/p

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Stock News 2010: Bourse approves listing of IPVG unit

Image by The Planet via Flickr

THE PHILIPPINE Stock Exchange (PSE) on Wednesday approved the initial public offering (IPO) of IP Converge Data Center, Inc., the local bourse’s top executive said late last week.

The fourth public listing approved by the stock exchange for the year will allow the information and telecommunications arm of listed IPVG Corp. to generate P320 million to P365.5 million in fresh capital.

It will also be the second IPVG subsidiary to go public this year. “The approval was on the same board meeting,” PSE Chairman Hans B. Sicat told reporters, referring to the Oct. 20 PSE board meeting. In the same meeting, the PSE allowed Zamora-led Nickel Asia Corp. to conduct its P8.05-billion IPO.

With the recent development, Mr. Sicat said the local bourse was expecting a total of three IPOs for the year.

In mid-October, the Securities and Exchange Commission (SEC) cleared IP Converge’s plan to sell 45.57 million common shares at P7.04 to P8.80 per share.

The shares are equivalent to 25% of the company. Public listing is set for Dec. 8, with IP Converge tapping Unicapital, Inc. as underwriter and issue manager.

http://www.bworldonline.com/main/content.php?id=20007

Stock News 2010: SMC hikes stake in Petron

Image via Wikipedia

SAN MIGUEL Corp. has increased its stake in Petron Corp. to 37.8 percent of the oil refiner’s outstanding capital stock as part of its intention to acquire a controlling interest by year’s end.

On Aug. 31, San Miguel bought 1.52 million Petron shares from the Ashmore group at P7.20 a share or a total of P10.9 billion. Based on the latest regulatory filing by Petron, it said San Miguel now owned 3.58 billion shares.

Prior to the purchase, San Miguel acquired an initial 19.83-percent stake from Ashmore equivalent to 1.88 billion shares at P6.85 a share. But even before the acquisition of the initial block from Ashmore, San Miguel had conducted a tender offer at P6.85 a share given its intention to exercise the option to acquire 100 percent of Ashmore unit SEA Refinery Corp., which controls Petron.

Doris Dumlao

September 7, 2010

http://business.inquirer.net/money/topstories/view/20100907-291016/SMC-hikes-stake-in-Petron

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Stock News 2010: Sell Fil-Estate Land, Inc.

Image by mischiru via Flickr

Fil-Estate Land, Inc.

Recommendation: Sell

ACCORD Capital Equities Corp. is advising investors to sell Fil-Estate Land, Inc. shares following the stock price’s hefty climb in just half a month.

“Shares of Fil-Estate Land traded from P0.38 to P0.41 per share during mid-August,” analyst Justino B. Calaycay, Jr., said. “Today, it closed at P0.54 per share which resulted in a 32% increase in its price which is a good thing,” he said last Friday.

The stock’s price-to-earnings (PE) ratio, at 28x, was way higher than the property industry average of 19x, Mr. Calaycay added.

“Since its PE ratio is higher than the industry average, there could be other property issues more attractive in the eyes of investors… it would be better for equity investors holding Fil-Estate shares to take profit at this time,” he said.

Fil-Estate’s announcement it could end its fiscal year with P50 million in net income, a turnaround, could already be taken into account, Mr. Calaycay said.

Share Price	0.54
High (past 52 weeks)	0.58
Low (past 52 weeks)	0.26
Market Cap. (M)	1,809.00
Price-Earnings Ratio	-28.01
Earnings Per Share	-0.04

Daniel Anne Nepomuceno-Rodriguez

September 6, 2010

http://www.bworldonline.com/Research/stockpicks.php?id=0667

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Stock News 2010: Buy SM Development Corp.

Image by happy via via Flickr

SM Development Corp.

Recommendation: Accumulate on Weakness

SM DEVELOPMENT Corp. is one of the most attractive stocks to buy nowadays given its rosy growth prospects, according to brokerage firm A&A Securities, Inc.

Technical-wise however, analyst Jeng T. Calma cautioned its share price has already peaked, offering less gain to interested investors.

“SMDC’s closing price of P7.60 per share last Friday is just 40 centavos away from its resistance level of P8 per share — its all-time high,” she said.

A favorable outlook on the property sector, the company’s future expansion plans and profits jumping by 24% to P1.3 billion in the first half all contributed to the rise in SMDC’s share price to P7.60 last Friday from just P7 apiece the other week, according to the analyst.

Ms. Calma advised investors though to wait until the stock’s price fall to at least P7.50 apiece.

“With the market projected to be in the bull-run, I believe there is still room for SMDC’s share price to rise… For now, better wait for some correction,” she said.

Share Price	7.6
High (past 52 weeks)	7.6
Low (past 52 weeks)	3.75
Market Cap. (M)	41,771.70
Price-Earnings Ratio	11.74
Earnings Per Share	0.34

Gloria Krisana L. Gallezo

September 6, 2010

http://www.bworldonline.com/Research/stockpicks.php?id=0668

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