Press "Enter" to skip to content

Stock Commentary: Quick notes from around the market

Merkado Barkada

February 3, 2022 | 8: 30am

Mega Global Corp (MGC) serene targeting IPO by “50th birthday” (2025) which is unchanged from its earlier signalling that it would IPO around that time. The extra IPOs the greater, nevertheless it surely’s going to be a lengthy road to IPO if we get obscure teasers each 6 months for the following 3 years.

DITO [DITO 5.15 1.38%] will like over 12 billion shares listed on February 4; these were the shares that were sold to Dennis Uy through Dennison Holdings and Udenna Corp through a non-public placement and the share swap connected to the injection of the Dito Telecommunity resources. The listing raises DITO’s excellent shares by bigger than 630%, nevertheless does nothing to the loyal set apart of the stock for the explanation that shares’ existence has already been accommodated within the associated rate from the time of issuance.

DITO resumed buying and selling after its conclude turned into lifted the outdated day at 10: 30am; within the begin, the stock traded as low as P4.80/share (-1.6% from the ailing-fated SRO’s offer set apart) within the begin of the day, ahead of stoning up to as excessive as P5.25 over the course of a about 10 minutes (a 10% rip from that early session low). Larger than half of of the day’s quantity turned into spent in that crazy first couple of minutes. The stock form of bounced around spoil-even for the relaxation of the session.

Merkado Barkada is a free each day e-newsletter on the PSE, investing and business within the Philippines. Which you may subscribe to the e-newsletter or note on Twitter to earn the beefy each day updates.

Merkado Barkada’s opinions are equipped for informational functions handiest, and can simply no longer be regarded as a recommendation to take hang of or sell any explicit stock. These each day articles are no longer up so far with contemporary records, so each investor must attain his or her absorb due diligence ahead of buying and selling, as the details and figures in each explicit article may perchance simply like modified.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *