ANGELICA BALLESTEROS, TMT

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The stock market soared to new heights on Tuesday as investors cheered the government’s announcement of the liberation of Marawi City, ending the day at a fresh record just short of the 8,500 level. The Philippine Stock Exchange index (PSEi), which gained 0.59 percent or 49.80 points to close at…

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Plans to impose a 20 percent minimum public float will initially be implemented for companies looking to conduct initial public offerings (IPOs), a senior Securities and Exchange Commission (SEC) official said. “Our thinking is we will go forward with the IPOs first to require the (20 percent) minimum float. We’re…

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Firm banking on ‘Build, Build, Build’ program LISTED ATN Holdings Inc. is planning to raise P500 million in fresh funds for the acquisition of necessary infrastructure equipment to expand capacity amid the opportunities opened by the government’s “Build Build Build” program. In a disclosure to the Philippine Stock Exchange on…

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EMBATTLED agribusiness firm Calata Corp. said on Tuesday that the Philippine Stock Exchange’s condition for the company to conduct a tender offer so that it could delist voluntarily was “grossly impractical” and “unfair.” “It is grossly impractical because if the company will force itself to generate cash for the tender…

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THE Philippine Stock Exchange (PSE) is in talks with its Shenzhen counterpart to invest in the former’s planned P2.5 billion follow-on offering, a bourse official said. “Very preliminary. We had somebody talking to them [the Shenzhen Stock Exchange],” PSE President and Chief Executive Officer Ramon Monzon said in a chance…

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DMCI Homes has launched the third tower of its Verdon Parc condominium project in Davao City amid strong reception from real estate buyers, the developer said on Monday. DMCI said 866 units or 72 percent of Verdon Parc’s first two towers, Martel and Belvedere, have been sold before the third…

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MacroAsia Corp. has signed a joint venture agreement with PTC Holdings Corp. for the establishment of an aviation school in Luzon, which is expected to generate $17 million in revenues in its first five years of operation. Based on the agreement, the two firms will invest $3 million to set…

SHARES OUTLOOK FOR THE WEEK:

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Profit-taking could weigh on the stock market, which analysts say is due for a correction following a run of record highs. “Definitely, in the short to medium term on overbought levels, we will have a correction,” Summit Securities, Inc. President Harry Liu said. “We’re seeing support now at 8,150 and…

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LISTED green builder Italpinas Development Corp. expects to generate P1.4 billion in revenues from Miramonti, its first residential project in Luzon which is set to be launched soon. Italpinas said it will be spending P780 million on the first phase of Miramonti, which is located in Sto. Tomas, Batangas. “We…

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The stock market continued its run of record highs on Friday, with the Philippine Stock Exchange index (PSEi) gaining 0.54 percent or 45.13 points to close at 8,447.94. The wider All Shares grew 0.20 percent or 9.83 points to settle at 4,983.11. “[I]nvestors remain positive and the momentum is really…

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