newsletter
Giving you the brief updates on the market
Become a wise investor and trader with the help of Market Updates Team! These are the updates in the market during March to May 2021!
TABLE OF CONTENTS
Market updates 1.0
March 7, 2021
Currency Updates
USD to PHP : 48.5730; -0.06; -0.13% (peso appreciated w/w)
EUR to PHP : 58.1419; -1.09; -1.85% (peso appreciated w/w)
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Index Updates
PSEI : 6,881.37; +86.51; +1.27% (index increased in market value w/w)
^DJI : 31,496.30; +563.93; +1.82% (index increased in market value w/w)
^SPX : 3,841.94; +30.79; +0.81% (index increased in market value w/w)
^IXIC : 12,920.15; -272.19; -2.06% (index decreased in market value w/w)
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market commentaries
Global: European markets close lower as rising U.S. yields reignite global stock jitters. European markets closed lower on Friday as rising U.S. bond yields continued to weigh on investor sentiment. The pan-European Stoxx 600 closed down by 0.78%, having earlier been down as much as 1%. Travel and leisure stocks dropped 4% as most sectors and major bourses entered negative territory.
Source: CNBC
Some European governments are expecting a supplementary bill in 2021 in order to finance the additional costs of the coronavirus pandemic on their economy.
Local: 105 out of 271 PSE-listed companies paid Php 342.88 billion in cash dividends to common stockholders in 2020, with a yield of 2.50 percent. The same yield of 2.50 percent was given to the investors in 2019, with a payment of Php368.03 billion in cash dividends. Source: Philippine Stock Exchange
Listed firms in the Philippines continued to pay attractive dividends in 2020 despite the disruptive impact of the pandemic on their operations and cash flow providing investors additional income during one of the most financially challenging years in the history of Philippine business
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special reports
Oil prices jump as OPEC+ keeps production largely steady, Saudi Arabia continues voluntary cut. Oil prices jumped on Thursday after OPEC (Organization of Petroleum Exporting Countries) and its oil-producing allies said the group would keep production largely steady through April. Saudi Arabia also said that it would extend its one million barrels per day voluntary production cut into April. Source: CNBC
This event will increase the price of oil as OPEC continues to restrict the global supply expecting a steady but full recovery of the oil market.
Globe Telecom is keen on using satellite broadband in remote areas. Globe was working with US-based Curvalux, the company behind the CurvaNet satellite constellation project to deliver affordable broadband internet to even the most remote areas beyond the reach of any telecom towers. Source: Philippine Inquirer
With the addition of satellite broadband in their internet solutions, Globe Telecom is already positioning itself to deliver high-speed internet to its customers to maintain its strength in the telecom industry.
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Market updates 1.1
March 14, 2021
Currency Updates
USD to PHP : 48.5190; -0.05; -0.11% (peso appreciated w/w)
EUR to PHP : 58.1646; +0.02; +0.04% (peso depreciated w/w)
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Index Updates
PSEI : 6,728.55; -152.82; -2.22% (index decreased in market value w/w)
^DJI : 32,777.33; +1,281.03; +4.07% (index increased in market value w/w)
^SPX : 3,943.34; +101.40; +2.64% (index increased in market value w/w)
^IXIC : 13,319.87; +399.72; +3.09% (index increased in market value w/w)
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market commentaries
Global: Asia-Pacific markets mostly advanced as Chinese and South Korean shares led gains. Asia-Pacific markets traded broadly higher Thursday, following a relatively strong finish on Wall Street overnight after U.S. lawmakers passed a $1.9 trillion coronavirus relief package.The Nikkei 225 in Japan rose 0.6%, In South Korea, the Kospi rose 1.88%, Hong Kong’s Hang Seng Index added 1.47% in late-afternoon trade. Source: CNBC
The various markets in the Asia-Pacific region hope that the rally will continue as they recover from the effects of the Coronavirus pandemic on their economies
Local: PSE: Stricter backdoor-listing rules to benefit investors. To empower the investing public to properly scrutinize any equity deal that will shake up business or voting control in any publicly listed company, PSE plans to strengthen its backdoor-listing rules. Shares acquired pursuant to the backdoor-listing deal will be locked up for six months after the public offering. Shares of those owning at least 10 percent will be locked up for one year from completion of the transaction.
Source: Business Inquirer
PSE seeks to strengthen the regulation of reverse takeovers (transactions leading to the backdoor listing of unlisted companies or businesses) given that these companies or businesses do not go through the initial listing process and are not subjected to the same level of scrutiny applied to companies conducting an IPO (initial public offering).
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special reports
Philippines to continue AstraZeneca rollout : The Philippine government would continue to roll out AstraZeneca vaccines even after some European countries suspended its use due to some supposed health risks, according to the Department of Health (DoH). Source: BusinessWorld
With the Philippines being one of the most affected countries in South-East Asia, it is hoped that a continual rollout of the Covid-19 vaccine will help with the economic recovery of one of the region's biggest economies.
Ayala Corp. dropped its net income by 50%. Ayala’s net income was down to P17.1 billion in 2020 from P35.3 billion in 2019 due to the effects of the pandemic on its business operations. Ayala’s real estate was the worst hit from its businesses with a 74% drop in net income at P8.7 billion. Source: CNN
With its net income dropped by 50% from last year, investors may not be aggressive in buying shares of Ayala Corporation. On the other hand, Ayala’s purchase of around 2.6 million doses of AstraZeneca’s COVID-19 vaccine for the Philippines may help the company from bouncing back from its last year losses.
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Market updates 1.2
March 21, 2021
Currency Updates
USD to PHP : 48.6730; +0.15; +0.32% (peso depreciated w/w)
EUR to PHP : 57.9987; -0.17; -0.29% (peso appreciated w/w)
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Index Updates
PSEI : 6,436.10; -292.45; -4.35% (index decreased in market value w/w)
^DJI : 32,627.97; -149.36; -0.46% (index decreased in market value w/w)
^SPX : 3,913.10; -30.24; -0.77% (index decreased in market value w/w)
^IXIC : 13,215.24; -104.63; -0.79% (index decreased in market value w/w)
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market commentaries
Global: Gold up, heads for second weekly rise as dollar eases off session high Gold rose on Friday, on track for a second weekly gain as U.S. Treasury yields dipped and dollar eased off session highs.Spot gold rose 0.3% to $1,742.14 per ounce at 3:11 p.m. ET, and was up 0.9% this week..U.S. gold futures settled up 0.5% at $1,741.70.
This event could cause more people to invest in gold because it is seen as a safe haven during this time of political uncertainty.
Local: PSEi down 2.9% on stricter lockdown, COVID-19 spike worries. On the closing last Friday, March 19, 2021, PSEi down 2.9% on stricter lockdown, COVID-19 spike worries. All subsectors closed in negative territory with property stocks suffering a 4.48% loss. Financials and services also dropped 2.63% and 2.58%, respectively. Data from the PSE showed 3.53B shares valued at P10.41B changing hands last Friday. Losers outpaced gainers 157 to 64 while 35 companies closed unchanged.
Source: Business Inquirer
The benchmark PSEI fell below the key 6,500 level as investors fled risky assets like equities due to the recent spike in COVID-19 infections and worries over stricter lockdown measures.
special reports
Philippines inks deal for 20 million Moderna vaccine doses. The Philippine government and the private sector have sealed an agreement with Moderna, Inc. for 20 million doses of its coronavirus vaccine, according to the presidential palace, making it the country’s largest vaccine supply deal to date. The government secured 13 million doses of the Moderna vaccine, while private firms led by International Container Terminal Services Inc. (ICTSI) Chairman Enrique K. Razon Jr. will get 7 million doses for their workers, vaccine czar Carlito G. Galvez, Jr. said in a statement.
With this deal, the government can continue to vaccinate more Filipinos as it aims for mass public vaccinations starting in late May 2021. Also, large companies would be able to inoculate their employees and would be able to resume relatively regular operations.
Dennis Uy’s Chelsea Logistics sells shares in 2GO to SM Investments. 31.73% of Chelsea stake is selling at P8.50 share per share to SMIC. With this acquisition, SMIC would get majority of the outstanding of the voting capital stock of 2GO making its subsidiary.
With this acquisition, 2GO stock prices may rise significantly given that it will be a subsidiary of SMIC. It is expected that a short term uptrend in price may happen in the company’s share price.
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Market updates 1.3
March 28, 2021
Currency Updates
USD to PHP : 48.6310; -0.04; -0.09% (peso appreciated w/w)
EUR to PHP : 57.2387; -0.76; -1.31% (peso appreciated w/w)
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Index Updates
PSEI : 6,544.63; +108.53; +1.69% (index increased in market value w/w)
DJI : 33,072.88; +444.91; +1.36% (index increased in market value w/w)
SPX : 3,974.54; +61.44; +1.57% (index increased in market value w/w)
IXIC : 13,138.72; -76.52; -0.58% (index decreased in market value w/w)
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market commentaries
Global: Suez Canal blocked by traffic jam after massive container ship runs aground. Eight tug boats are working to free a large container ship stuck in Egypt's Suez Canal, halting marine traffic through one of the busiest and most important waterways in the world. The rescue boats are working to float and release the Ever Given, a 59-meter-wide (193.5-feet) vessel that ran aground after 40-knot winds and a sandstorm caused low visibility and poor navigation, the Suez Canal Authority said in a statement Wednesday. The 224,000-ton vessel, sailing under a Panama flag, was en route to the port of Rotterdam in the Netherlands when it was knocked off course.The ship is wedged across the vital trade passage at the canal's 151-kilometer (94-mile) mark, the vessel's operating company said in a statement.
Source: CNN
The Suez canal accounts for approximately 30% of container ship traffic globally each day, with the alternative shipping route between Asia and Europe , going around the entirety of Africa , taking a week longer. It is possible this will have a large impact at the immediate prices of many goods, including oil.
Local: PH bond market grew by 29% in 2020. Asian Development Bank’s Asia Bond Monitor for March 2021 showed that the local currency bond market grew by 28.9% to Php 8.57 trillion last year from Php 6.65 trillion in 2019. The volume of government-issued IOUs (treasury bills and bonds) as well as Bangko Sentral ng Pilipinas (BSP) securities rose 35.3% year-on-year and 7 percent quarter-on-quarter as of end-2020. Corporate bonds rose 7.1% to Php 1.61 trillion last year from Php 1.51 trillion in 2019. Source: Business Inquirer
Bigger government borrowings to raise funds for COVID-19 response fueled the growth of the Philippines’ domestic bond market in 2020, as shown in the latest report of ADB last Friday.
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special reports
DoubleDragon REIT made a “challenging” debut in PSE. DoubleDragon Reit holds the record number of small investors mostly from the provinces. Finance Secretary Carlos Dominguez III said in a recorded message that DoubleDragon”s REIT listing reflects the strong confidence of the investors in the Philippines’ economic recovery. Meanwhile,17.83 billion shares of the company are listed with Php 2.25 price per share last Wednesday. Source: Business World
It is evident that investors today prefer to park their money in a REIT company as Ayala’s REIT made a successful debut also back then. With this, we can see a price appreciation in the share price of DoubleDragon’s REIT in the coming days given its success among retail investors.
Oil prices rebound on fears Suez Canal blockage may last weeks. Oil prices bounced back on Friday from a plunge a day earlier on concerns that a large container ship that ran aground in the Suez Canal may block the vital shipping lane for weeks, squeezing supply. Prices, however, were still headed for a third consecutive weekly loss. Brent crude settled 4.23% higher at $64.57 per barrel, after dropping 3.8% on Thursday. U.S. West Texas Intermediate (WTI) crude advanced 4.12% to settle at $60.97 per barrel, having tumbled 4.3% a day earlier. Both benchmarks were on track for a weekly loss of more than 3%, following a more than 6% decline last week.
The Suez canal blockage has temporarily slowed down the decline in the price of oil, but market trends indicate that oil prices will continue to go down once the initial reaction is over and/or the Suez canal is operational again.
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Market updates 1.4
April 11, 2021
Currency Updates
USD to PHP : 48.5760; +0.11; +0.23% (peso depreciated w/w)
EUR to PHP : 57.6646; +0.87; +1.54% (peso depreciated w/w)
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Index Updates
PSEI : 6,545.17; +102.08; +1.58% (index increased in market value w/w)
The closing number used as basis for the change in index market value is 6,443.09 (close of Wed, Mar 31, 2021).
DJI : 33,800.60; +647.39; +1.95% (index x in market value w/w)
The closing number used as basis for the change in index market value is 33,153.21 (close of Thu, Apr 1, 2021).
SPX : 4128.80; +108.93; +2.71% (index increased in market value w/w)
The closing number used as basis for the change in index market value is 4,019.87 (close of Thu, Apr 1, 2021).
IXIC : 13,900.18; +420.07; +3.12% (index increased in market value w/w)
The closing number used as basis for the change in index market value is 13,480.11 (close of Thu, Apr 1, 2021).
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market commentaries
Global: Dollar gains as investors bet on strong U.S. recovery. The dollar advanced against major currencies on Tuesday, climbing to a one-year high versus the yen, as increasing U.S. vaccinations and a major stimulus package backed expectations of a strong recovery from the pandemic, lifting Treasury yields. Benchmark 10-year Treasury yields rose to 14-month highs on Tuesday at 1.776% before pulling back later in the session. Treasury yields hit new highs a day before President Joe Biden is set to outline how he intends to pay for a $3 trillion to $4 trillion infrastructure plan.
Source: CNBC
This is a sign that the American economy is set to start an economic recovery by this year. This will cause various American markets to go up in valuations as well
Local: Economist sess slim chance of 5% GDP growth. With the recent return to had lockdowns due to surging COVID-19 cases last month, various analysts have downgraded their GDP growth forecasts with cuts of as much as 1.8% points, reducing projected growth to below 6%. Romeo Bernardo, economist at New York-based think tank Global Source, noted gaps in managing the pandemic that had been left unattended, most notably weak contact tracing that increases the odds of more exposures. He also cited the state health insurance agency’s failure to pay its obligations to hospitals, thereby reducing the private sector’s capacity and incentive to expand facilities and staff compensation. Source: Business Inquirer
The Philippine economy may be hard-pressed to even grow by 5% this year as no relief is yet in sight from the coronavirus (COVID-19) pandemic a year since the outbreak, promting a return to tough lockdown protocols.
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special reports
JG Summit lost Php468 million in their earnings as Cebu Pacific pulls down earnings in 2020. The company posted a net loss of P468 million in 2020, as the pandemic hit most of its subsidiaries. Cebu Air, the operator of Cebu Pacific, dragged the parent company into the loss. On the other side, JG Summit’s food and banking businesses helped to offset the profit declines in other subsidiaries. Source: Rappler
China fines Alibaba record $2.77bn for antitrust violation. Chinese authorities on Saturday decided to fine Alibaba Group 18.2 billion yuan ($2.77 billion). The authorities say Alibaba broke the country's antitrust laws as it urged clients and suppliers not to trade with its rivals. The penalty is the largest antitrust penalty in China and is likely to deal a blow to Alibaba. Source: Nikkei Asia
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Market updates 1.5
April 18, 2021
Currency Updates
USD to PHP : 48.4790; -0.10; -0.20% (peso appreciated w/w)
EUR to PHP : 58.0245; +0.36; +0.62% (peso depreciated w/w)
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Index Updates
PSEI : 6,494.81; -50.26; -0.77% (index decreased in market value w/w)
DJI : 34,200.67; +400.07; +1.18% (index increased in market value w/w)
SPX : 4,185.47; +56.67; +1.37% (index increased in market value w/w)
IXIC : 14,052.34; +152.16; +1.09% (index increased in market value w/w)
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market commentaries
Global: Dollar at 4-week low on retreating Treasury yields. The dollar fell to a four-week low against a basket of currencies on Friday, still smarting from a sharp drop in U.S. Treasury yields the previous session, and as investors increasingly bought into the Federal Reserve’s insistence it would keep an accommodative policy stance for a while longer. Source:CNBC
This event indicates that the dollar weakness may continue to persist, at least in the short term. Investors may move to other currencies that are doing well against the US dollar.
Local: BIR suspends tax deficiency audit, collection for 60 days. In Revenue Memorandum Circular No. 52-2021 dated April 14, Internal Revenue Commissioner Caesar Dulay said the ECQ from march 29 to April 11 in NCR Plus had restricted revenue personnel from serving or delivering assessment notices, warrants of distraint and/of levy, as well as warrants of garnishments to collect deficiency taxes. As a result of the ECQ, Dulay said taxpayers being investigated in areas covered had been given the 60-day leeway before they would be served with pending assessment notices and warrants for the BIR to ultimately collect their deficiencies. After the two-month period, the BIR will resume its assessment and enforcement activities against delinquent taxpayers, including bringing them to court.
Source: Business Inquirer
As for 2020 personal and corporate income tax returns, the BIR did not give any extension to file and pay beyond the mandatory April 15 deadline, although the country’s biggest revenue agency allowed amending returns until May 15.
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special reports
Mining stocks rallied as Duterte lifts ban on new deals. Mining stocks emerged as winners last April 16 when Duterte lifted the ban on new mining agreements. These stocks gained 1.9% compared to PSEi which lost for about 0.7%. Source: Rappler
Dogecoin spikes 400% in a week, stoking fears of a cryptocurrency bubble. Dogecoin is a cryptocurrency based on the “Doge” meme, which rose to popularity in late 2013. It started out as a joke. Now, defying all odds, dogecoin is worth $40 billion, and its price has risen by a whopping 400% in the last seven days. Dogecoin’s skyrocketing price has led to worries of a potential bubble in the cryptocurrency market. Source: CNBC
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Market updates 1.6
April 25, 2021
Currency Updates
USD to PHP : 48.4020; -0.08; -0.16% (peso appreciated w/w)
EUR to PHP : 58.1695; +0.14; +0.25% (peso depreciated w/w)
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Index Updates
PSEI : 6,378.07; -116.74; -1.80% (index decreased in market value w/w)
DJI : 34,043.49; -157.18; -0.46% (index decreased in market value w/w)
SPX : 4,180.17; -5.30; -0.13% (index decreased in market value w/w)
IXIC : 14,016.81; -35.53; -0.25% (index decreased in market value w/w)
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market commentaries
Global: Dollar firm as COVID-19 resurgence dampens risk appetite. The U.S. dollar rose on Wednesday from a seven-week low hit overnight, as broad weakness in stock markets triggered by a resurgence of COVID-19 cases in India and Japan encouraged a retreat to the safe-haven appeal of the greenback. The rise in the dollar comes after the greenback weakened through much of April as U.S. interest rates declined and traders bet that vaccinations would open up a stronger global economic recovery and drive demand for riskier and higher-yielding currencies.
The number of COVID-19 cases in India has passed its previous peak and is still continuing to rise. Japan is around 70% of its peak and rising. If these trends continue to persist, more and more investors will retreat to safer currencies like the US Dollar for the foreseeable future.
Local: PH Raises more than P122B via biggest euro bond sale. It is the country’s first time to offer euro bonds across three tranches, it sold 650M euros each in four- and 12-year bonds, as well as 800M euros in 20-year tenor, which by far is the longest tenor that PH has sold in the euro market. The Treasury said the money raised from this issuance would largely be injected into the budget. Finance Secretary Carlos Dominguez III quoted that “The Philippines’ successful return to the international capital market for the second time this year reflects the investor community’s confidence in the country’s prospects for a strong recovery from the prolonged pandemic.”
The Bureau of Treasury sees this as a sign of investor confidence in PH’s strong post pandemic recovery.
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special reports
Over $200 billion wiped off cryptocurrency market in a day as bitcoin plunges below $50,000. Bitcoin and other digital coins plunged on Friday, wiping over $200 billion of the value of the cryptocurrency market.President Biden is expected to raise long-term capital gains tax for the wealthiest Americans to 43.4%, including a surtax.That’s led to a wave of selling in crypto markets, which have had a great year with bitcoin climbing more than sixfold in the last 12 months.
BDO's net income rises by 19% in Q1 2021. BDO Unibank accumulated a net income of Php10.4 billion in Q1 of 2021. This is 19% higher than the same period last year. BDO attributed this increase to its service fee earnings. Also, the company set aside an additional Php2.9 billion in provisions for bad loans. Source: Rappler
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Market updates 1.7
may 9, 2021
Currency Updates
USD to PHP : 47.9790; -0.41; -0.85% (peso appreciated w/w)
Exchange rate closed at 48.3900 last Apr 30, 2021.
EUR to PHP : 57.8819; -0.80; -1.36% (peso appreciated w/w)
Exchange rate closed at 58.6777 last Apr 30, 2021.
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Index Updates
PSEI : 6,258.71; -112.16; -1.76% (index decreased in market value w/w)
Index closed at 6,370.87 last Apr 30, 2021.
DJI : 34,777.76; +898.76; +2.65% (index increased in market value w/w)
Index closed at 33,879.00 last Apr 30, 2021.
SPX : 4,232.60; +51.43; +1.23% (index increased in market value w/w)
Index closed at 4,181.17 last Apr 30, 2021.
IXIC : 13,752.24; -210.44; -1.51% (index decreased in market value w/w)
Index closed at 13,962.68 last Apr 30, 2021.
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market commentaries
Global: Dollar slides to more than two-month low after big U.S. jobs miss. The dollar fell to its lowest in more than two months on Friday after U.S. jobs data for April came in well below expectations, putting a damper on hopes that a roaring economic recovery would lead to higher rates any time soon.
Nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March, the Labor Department said in its closely watched employment report on Friday. Economists polled by Reuters had forecast payrolls advancing by 978,000 jobs.The dollar was down 0.34% at 90.561 against a basket of major currencies, having dropped as low as 90.338, its lowest since Feb. 26, following the data.
Source: CNBC
If the dollar continues to show signs of weakness and keeps slipping down, many believe that the recovery of the U.S. Economy might take longer than initially expected.
Local: Risk aversion keeps investors away from PH bourse; stocks down. The main-share Philippine Stock Exchange index (PSEi) went down by 24.07 points or 0.38 percent to close at 6,258.71. According to Luis Gerardo Limilingan, managing director at Regina Capital Development, this is primarily due to investors focusing their attention on the highly anticipated jobs data, and fund managers still continuing to assess the new set of earnings that came out. Source: Business Inquirer
The local stock barometer ended the week on a sluggish note as investors remained generally averse to risk-taking, keeping in mind uncertainties over domestic economic prospects and the COVID-19 vaccination rollout.
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special reports
San Miguel booked a 1,471% profit in Q1 2021. San Miguel’s net income boosted to P17.2 billion in Q1 2021, higher than P1.1 billion earned in Q1 2020. It was attributed to the increasing demand for food and liquor while maintaining cost saving efforts in producing the goods.
Covid vaccine makers’ shares seesaw after Biden administration says it will back patent waivers. Pfizer and Moderna shares see-sawed Thursday after the Biden administration said it would support waiving patent protections for their Covid vaccines. Pfizer fell in intraday trading by as much as 5% from Wednesday’s close and Moderna dipped by almost 12% before both stocks recovered most of those losses.
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South Africa and India are pressing U.S. officials and the WTO to temporarily waive patent protections so developing countries can produce the lifesaving vaccines until world leaders can get the pandemic under control. Source: CNBC
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irecap week
PSE Dividend Declarations
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(Tue, May 4) $PRMX (Php 0.02 regular). Ex-date: May 13, 2021. Yield as of Fri, May 7: 0.58% gross.
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(Thu, May 6) $GSMI (Php 0.25 regular; Php 1.00 special). Ex-date: May 18, 2021. Yield as of Fri, May 7: 2.00% (0.40% + 1.60%) gross.
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(Thu, May 6) $FB (Php 0.40 regular). Ex-date: May 17, 2021. Yield as of Fri, May 7: 0.59% gross.
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(Thu, May 6) $MFC (CAD 0.28 regular). Ex-date: May 13, 2021. Yield as of Fri, May 7: 1.11% gross (converted to PHP using rate as of close of Fri, May 7).
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(Thu, May 6) $RLC (Php 0.25 regular). Ex-date: May 21, 2021. Yield as of Fri, May 7: 1.52% gross.
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(Thu, May 6) $SLF (CAD 0.55 regular). Ex-date: May 21, 2021. Yield as of Fri, May 7: 0.89% gross (converted to PHP using rate as of close of Fri, May 7).
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(Fri, May 7) $CHIB (Php 1.00 regular). Ex-date: May 18, 2021. Yield as of Fri, May 7: 3.99% gross.
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(Fri, May 7) $GLO (Php 27.00 regular). Ex-date: May 18, 2021. Yield as of Fri, May 7: 1.47% gross.
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Economic/Financial Data
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(Wed, May 5) PH headline inflation for April 2021 steadies at 4.5% (0.00%). See report from the Philippine Statistics Authority here.
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(Thu, May 6) PH unemployment rate (preliminary) fell to 7.1% (-1.7% m/m) in March 2021. See PSA labor force survey for March 2021 here.
​News
(Tue, Apr 27) PH bonds: $SMC to issue six-year fixed-rate bonds due 2027. See most recent disclosure and offer documents here.
(Tue, Apr 27) PH water: Razon-owned Trident Water Holdings to conduct a tender offer of $MWC shares for Php 13.00 per share until May 25, 2021. See tender offer report here.
(Thu, May 6) PH PSE: Monde Nissin Corporation’s final IPO price set at P13.50 per share. See disclosure here.
(Thu, May 6) PH bonds: $MBT to issue 5.25-year peso fixed-rate bonds due 2026. See disclosure and offer here.
(Thu, May 6) PH telco: MVP to step down as $TEL president and CEO. See article from CNN Philippines here.
(Fri, May 7) PH energy: $ACEN conducted FOO at Php 6.50 per share from May 3, 2021 to May 7, 2021. See disclosure here.
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