Asian markets fell Thursday with Tokyo plunging more than seven percent as investors took profits after weak Chinese data and signs the US Federal Reserve could start tapering off its massive stimulus measures.
Conglomerate San Miguel Corp. is selling 10-year bonds at an initial price guidance of 5.125 percent a year as part of its newly established $2-billion Euro Medium Term Note (EMTN) program.
The volume of transactions in the country’s Fixed Income Exchange (FIE) grew by a double-digit pace in 2012 as the favorable sentiment on the Philippines lifted demand for peso-denominated government and corporate bonds.
Melco Crown (Philippines) Resorts Corp. (MCP), the backdoor-listing vehicle for the local gaming operations of Macau’s Melco gaming group, plans to raise up to $400 million from a fresh equity offering.
A former stockbroker who had defrauded clients was convicted for seven violations of securities laws, the first criminal conviction under the Securities Regulation Code.
The Philippine Stock Exchange and the Singapore Exchange Ltd. (SGX) have entered into an agreement to develop derivative products, beginning with the launch of Philippine index futures in Singapore by the fourth quarter of this year.
An official of this large publicly listed company sold some shares in his company shortly before a subsidiary reported a major adverse development that resulted in a free fall of the share prices of affiliated companies. As such, regulatory filings suggest that the official was able to lock up gains ahead of the selldown—although it remains to be proven whether he had done so because of some advanced information not available to the investing public.
The country’s largest bank, Banco de Oro Unibank, has completed a P5-billion offering of long-term negotiable certificates of time deposit (LTNCDs) meant to stretch out its debt maturity profile.
Petron Corp., the country’s largest oil refiner and distributor, is set to issue dollar-denominated securities to raise additional funds, on top of the $500 million it raised in February this year.
The move of the Philippine Stock Exchange to set up and operate its own equities depository platform through wholly owned Securities Clearing Corp. of the Philippines (SCCP) has received backing from market players and business leaders.
The Philippine Dealing System & Holdings Corp. (PDS) has called on regulators to remedy what it described as a “grave regulatory misstep” arising from the Philippine Stock Exchange’s setting up of its own depository platform under exchange’s Securities Clearing Corp. of the Philippines (SCCP).
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