Quick takes from around the market
North Star Meat Merchants [NSTAR 10.00 pre-PSE] [link] IPO offer period is still undetermined. NSTAR’s preliminary prospectus indicated that its offer would start today, but the company’s IPO still hasn’t been approved by the PSE. Only after PSE approval will NSTAR receive a set of hard (ish) dates for pricing, offer, and listing.
Medilines Distributors [MEDIC 0.69] [link] Q1 profit surged 250% y/y to P28 million. MEDIC reported that revenues were up 31% to P260 million, and credits nearly 10% of this jump in profitability to its new consumables segment that has higher margins and turnover. This segment was a huge component of the growth story IPO pitch, so let’s see if they’re able to continue to grow it quickly.
Alsons Consolidated [ACR 1.01 2.02%] [link] confirms plans to spend P6 billion on capex over the next 3 years. The funds will be spent developing projects in ACR’s stable of hydro and solar power development portfolio.
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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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