The owner of Top Line Business Development Corp. (TOP) sold shares at more than four times the company’s initial public offering price just 13 months after listing—a sign investor appetite is still flowing toward selective growth stories despite weakness across the stock market.
The Securities and Exchange Commission (SEC) softened some of its toughest restrictions on long staying Philippine Stock Exchange (PSE) broker directors, but still pushed through with a governance overhaul that could reshape who controls the local bourse for years.
Tycoon Edgar Saavedra’s Megawide Construction Corp. grew first-quarter net income by 26 percent to P265 million as the infrastructure builder accelerated debt reduction and tightened costs.
Leyte tycoon Francis Lloyd Chua is considering selling his stake in construction giant EEI Corp. three years after buying into the firm, as worsening market conditions dragged the stock down roughly 70 percent.
Ana Aboitiz Delgado bought nearly P15 million worth of Aboitiz Equity Ventures Inc. (AEV) shares this month amid continued weakness in the broader market.
Tycoon Andrew Tan-led Emperador Inc. delivered resilient first quarter earnings as steady demand for whisky and brandy helped offset rising geopolitical and economic uncertainty across global markets.
Ayala Land shares have sunk back to levels last seen in 2011, wiping out almost 15 years of gains as elevated interest rates and weak housing demand pressure the property giant.
It’s this built-for-crisis approach that Robinsons Land Corp.’s management, under president and CEO Mybelle Aragon-GoBio, argues is allowing the company to keep major commitments, spending and expansion intact.