Quick takes from around the market
DITO [DITO 5.28 6.67%] nearly doubled its planned capex for 2022 to P50 billion, just days after it cancelled plans to raise P8 billion from investors through a stock rights offering. DITO says that it has already secured enough loans and equity to fully fund its development throughout its 5-year commitment period. Still no word yet on why it went through so much trouble to try and sell stock to the public if it had access to this money all along.
ABS-CBN [ABS 12.66 0.64%] has been informally offered access to its old spectrum by Manny Villar. According to Bilyonaryo, Villar’s group has sent out feelers to the Lopez Family, the owners of ABS, to see if they’d be interested in some kind of setup that would allow ABS to broadcast through its old spectrum that VIllar recently acquired from the government. Rent seekers gonna rent-seek.
PSE [PSE 209.60 0.29%] index review recommends adding Monde Nissin [MONDE 16.06 0.37%] and Emperador [EMP 24.30 1.25%] and dropping Bloomberry [BLOOM 6.06 0.66%] and Robinsons Retail [RRHI 58.00 0.87%], effective February 14. These moves can create short-term buying and selling opportunities as funds exit the stocks that were dropped and prepare to enter the newly-added stocks once they’re finally included.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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