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3 thinly traded listed stocks

 

A public ownership report (POR) as of Dec. 31, 2019 listed SM Investments Corp. (SMIC) and Sysmart Corp. as direct holders of 605,698,271 common shares and 415,995,323 common shares for a total direct ownership of 1,021,693,594 common shares, or 38.04 percent, in China Banking Corp. (CBC).

The POR also showed CBC’s public stockholders as owners of 1,535,481,915 common shares, or 57.168 percent of 2,685,899,812 outstanding common shares. The bank’s 12 directors directly held 60,841,976 common shares in addition to indirect ownership of 10,192,440 common shares for total ownership of 71,034,416 common shares, or 2.64 percent of the outstanding.

CBC attributed to 18 executives direct ownership of 4,410,936 common shares, or 0.15 percent. It credited CBC Employees Retirement Plan with direct holdings of 53,278,951 common shares, or 1.98 percent.

According to CBC, its public stockholders topped the ownership of its principal stockholders and its executives, being the holders of 1,535,481,915 common shares, or 57.168 percent. Their holdings made the public the majority stockholders.

On Jan. 15, 2020, CBC common shares opened trading at P25.05, also their high, fell to a low of P25 and closed the session at a high of P25.05. The stock hit a 30-day high of P25.30 and a month’s low of P24.70.


* * *

Roxas Holdings Inc. (RHI) reported having issued 1,565,579,279 common shares, of which 17,643,480 were treasury shares, leaving it with 1,547,935,799 outstanding common shares, according to a POR as of Dec. 31, 2019. Of the outstanding, its public stockholders owned 254,207,734 RHI common shares, or 16.42 percent.

The holding company, according to the website of the Philippine Stock Exchange, has all its issued shares totaling 1,565,579,279 listed, which made them all traded. The bloc included 17,643,480 treasury shares that RHI has not retired.

PCD Nominee Corp., according to the list of top 100 stockholders as of Dec. 31, 2019, is RHI’s top stockholder. It held 902,894,686 common shares, or 57.672 percent, for Filipinos, and 523,851,039 common shares, or 33.461 percent, for foreigners. Roxas & Co., which has its common shares listed, owned 99,624,995 common shares, or 6.363 percent, for aliens.

(A POR listed SPCI Holdings Inc. as the direct holder of 692,779,593 common shares in Roxas & Co. Carlos R. Elizalde and Francisco R. Elizalde were listed as holders of 24.99 percent each, or a total of 49.98 percent. This means the two Elizaldes have a combined ownership of 34,625,124,058 common shares in SPCI.)

Retiring said treasury shares would have reduced the company’s outstanding common shares and would have also reduced the company’s authorized capital stock (ACS).

Apparently, it plans to sell said treasury stocks either to the public or to a partner company.

On Jan. 15, 2020, RHI common shares traded throughout the day’s session at P1.76. The stock peaked at a 30-day high of P2.10 and dropped to a month’s low of P1.74.

* * *

Ionics Inc. has issued 857,974,992 common shares. It reported in a POR 20.844 million treasury shares. The company is left with 837,130,992 outstanding common shares.

In its POR as of Dec. 31, 2019, Ionics listed its public stockholders as owners of 296,220,816 common shares, or 35.39 percent of the outstanding. This public ownership makes them public substantial stockholders but did not top the holdings of the company’s principal stockholders, which combined for direct ownership of 465,033,298 Ionics common shares, or 55.56 percent.

As listed in the POR, Aqua Holdings directly owned 335,153,100 Ionics common shares, or 40.04 percent; Social Security System, 54,874,198 shares, or 6.56 percent; and Leonardo Siguion Reyna, 75.006 million Ionics common shares.

Ionics’ 11-person board directly held 49,171,338 common shares. It also was credited with indirect ownership of 26,691,040 common shares for total holdings of 75,862,378 common shares, or 9.05 percent. The company attributed to Manuel R. Roxas direct ownership of 14,500 Ionics common shares, or 0.00173 percent. (The POR had zero as the equivalent of his ownership.)

On Jan. 15, 2020, Ionics common shares traded throughout the session at P1.76. The stock hit a 30-day high of P2.01 and fell to a month’s low of P1.74.

When listed common shares are publicly traded, who does the trading? Just asking.

esdperez@gmail.com

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Today’s Front Page January 30, 2020

Today’s Front Page January 30, 2020