Philex raises stake in Pitkin to 50.28%
By Amy R. Remo
Publicly listed Philex Petroleum Corp. has increased its stake in oil and gas exploration firm Pitkin Petroleum Plc to 50.28 percent from 18.46 percent.
Publicly listed Philex Petroleum Corp. has increased its stake in oil and gas exploration firm Pitkin Petroleum Plc to 50.28 percent from 18.46 percent.
Asian markets were mixed on Tuesday in the first full session after the Easter break, while Japanese shares sank for a second straight day as the yen extended its recent gains.
Most local stocks dropped for a second session Tuesday as investors continued to lock in gains from the recent rally.
Energy Development Corp., the country’s largest producer of geothermal energy, will pay P1.5 billion in dividends to its shareholders in April.
Roxas Holdings Inc., one of the country’s largest sugar producers, seeks to close within this year a buy-in deal with a strategic investor who may acquire up to 20 percent of the sugar firm.
Japanese stocks opened 0.65 percent lower Friday as investors showed caution about the direction of the yen ahead of a Group of 20 meeting in Russia.
San Miguel Corp. is taking its property unit San Miguel Properties Inc. (SMPI) back into private hands.
BDO Unibank Inc. is issuing cash dividends to holders of preferred shares, as it expects 2012 profit to hit record high.
Publicly listed Leisure & Resorts World Corp. (LR) is beefing up its capital for the expansion of its businesses in the country.
Pangilinan-led Metro Pacific Investments Corp. (MPIC) has raised P6.2 billion through the issuance of new shares via equity placement, as it pursues government public-private partnership (PPP) projects in various industries.
Property developer MJC Investments Corp. (MIC) sold additional shares through the local bourse on Monday to ensure the firm’s compliance with the Philippine Stock Exchange’s (PSE) public ownership requirements.
Vulcan Industrial and Mining Corp., which is being groomed as a prospective backdoor listing vehicle for retailer National Bookstore, plans to raise fresh funds from the sale of treasury shares early this year.
