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Will the price of AP common shares erase the 30-day high?

 

Pacific Online Systems Corp. (POSC) has 895,330,946 outstanding common shares with a par value of P1 per share that are all listed on the Philippine Stock Exchange (PSE). It has a free-float level equivalent to 35.63 percent, or 319,006,416.0598 common shares.

A public ownership report (POR) as of Dec. 31, 2019 listed POSC’s public stockholders with 318,994,560 POSC common shares, or 35.628 percent of outstanding. Their holdings make the public substantial stockholders.

Two principal stockholders directly owned 492,322,736 POSC common shares, or 54.98 percent. They were Premium Leisure Corp., 448,560,806 common shares, or 50.1 percent, and Atlas Consolidated Resources & Holdings Inc., 43,761,930 common shares, or 4.88 percent, respectively. Try adding the percentages and the result is 54.98 percent.



POSC’s POR also showed 10 directors owning 2,004,300 POSC common shares, or 0.21 percent. Of their total ownership, the directors directly owned 71,830,250 common shares and indirectly held 10,179,100 common shares.

The POR listed the POSC’s directors and their holdings as follows: Regina O. Reyes, direct, 300 common shares; Armin B. Raquel-Santos, Jerry C. Tiu and Joseph C. Tan, direct ownership of 200 common shares each; Willy N. Ocier, direct ownership of 71,819,550 common shares and indirect ownership of 8,974,950 common shares, for a total of 80,794,500 common shares, or 9.02 percent; Tarcisio M. Medalla, direct ownership of 200 common shares and indirect ownership of 100 common shares; Henry N. Ocier, direct ownership of 6,000 common shares and indirect ownership of 1.203 million common shares; Jerry C. Tiu, direct ownership of 200 common shares and indirect ownership of 800 common shares; and Laurito E. Soriano, direct ownership of 1,600 common shares and indirect ownership of 800 common shares.

The filing also listed 10 executives with total ownership 2,004,300 POSC common shares, or 0.21 percent, divided into directly owned 396,200 common shares and indirectly held 1,608,100 common shares. Of the company’s executives, lawyer A. Bayani K. Tan indirectly owned 1.413 common shares while Mischel Gabrielle O. Mendoza directly held 390,000 and indirectly owned 195,000 common shares.

Only three of POSC executives, who were named as “officers” in the POR, were direct and indirect stockholders with ownership of 396,200 while only two shared in indirect holdings of 1,608,100 common shares.

On Mar. 27, 2020, POSC common shares were traded at P1.60 throughout the day’s session. The stock peaked at a 30-day high of P2.14 and fell to a 30-day low of P1.49.

* * *

Mikel A. Aboitiz is the vice chairman of the nine-person board of Aboitiz Power Corp. (AP). On Mar. 23, 2020, he increased his ownership by 8,500 common shares to 23,844,160 AP common shares, or 0.3240 percent from 23,835,660 AP common shares, or 0.3239 percent of 7,358,604,307 outstanding common shares. He held an AP nominal common share. Aboitiz’s acquisitions were as follows: 1,500 AP common shares at P21.45; 5,000 common shares at P21.50; and 2,000 common shares at P21.25.

In an explanatory note, AP said his indirectly owned common shares are “held by corporations where the reporting person has controlling interest.”

A POR as of Dec. 31, 2019 listed Aboitiz as holder of 23,208,660 AP common shares. Said filing showed AP directors as owners of 139,779,871 AP common shares, or 1.91 percent. The filing also reported Aboitiz Equity Ventures Inc. (AEV) as principal stockholder with direct ownership of 5,664,530,783 AP common shares, or 76.98 percent.

The company attributed to AP’s public stockholders their ownership of 1,407,513,698 common shares, or 19.13 percent of outstanding.

On Mar. 23, 2020 when Aboitiz increased his indirect ownership by 8,500 AP common shares, the stock opened trading at P23.90, hit a high of P25.10, dropped to a low of P20.50 and closed the session at its high of P25.10. On Mar. 27, 2020, AP common shares opened trading at P30, which were also the high, dropped to a low of P26 and closed at P26. The stock peaked at a 30-day high of P32.70 and fell to a 30-day low of P20.15.

* * *

International Container Terminal Services Inc. (ICTSI) reported 5,920,397,381 shares as the company’s authorized capital stock (ACS) divided into 4,227,397,381 common shares with P1 par value: and 993 million preferred A shares with P1 par value and 700 million preferred B shares with 0.01 par value, according to the company’s general information sheet (GIS) posted on the PSE website.

Of the ACS, 1,348 Filipinos paid for 1,932,299,752 common and preferred A and B shares, or 70.29 percent while 31 foreigners of various nationalities paid for 816,677,919 common and 3.8 million preferred A shares. Of the 31 stockholders, only one paid for subscription to 3.8 million preferred B shares. Thus, as of 2019, ICTSI had paid-up capital stock of 2,748,977,671 common, preferred A and preferred B shares.

PCD Nominee Corp. topped the list of ICTSI stockholders. As record stockholder, it held 812,010,688 common shares, or 29.54 percent, for foreigners, and 773,101,373 common shares, or 28.12 percent, for Filipinos. Bravo International Port Holdings Inc. owned 279.675 common shares, or 10.17 percent.

The other ICTSI stockholders included Achillion Holdings Inc. with ownership of 80 million common shares and 700 million preferred B shares, for a total of 780 million common and preferred B shares, or 2.91 percent, and 25.46 percent, respectively.

At number 21 was “others” with 10,391,030 common shares, or 0.38 percent, and 3.8 million preferred B shares, or 0.41 percent.

On Mar. 27, 2020, ICTSI common shares opened trading at P76.20, hit a high of P78.50, dropped to a low of P74.20 and closed the session at P74.25. The stock peaked at a 30-day high of P126.70 and fell to a 30-day low of P61.85.

Who are the public investors who buy and sell listed stocks? Just asking.

esdperez@gmail.com

 

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