Philippine listed companies have ramped up share buybacks this year as the market’s continued slump pushed firms to act on what they see as deeply undervalued stock prices, according to data InsiderPH obtained from the Philippine Stock Exchange.
The Department of Justice rejected the Beloy siblings’ bid to blame their late father for a multibillion-share scam at Abra Mining & Industrial Corp., recommending criminal charges against executives and stockholders.
Despite global uncertainties, the country is expected to remain one of Southeast Asia’s fastest-growing economies, according to officials of the financial firm.
The Philippines is sitting on a goldmine of untapped initial public offering (IPO) opportunities, with over 400 large unlisted companies and state-owned enterprises (SOEs) that could expand the market if reforms make the process more attractive.
The Gokongwei family-led Cebu Air Inc., the operator of Cebu Pacific, announced a P2-billion plan to repurchase common and preferred shares to enhance the stock’s value
The Philippine Stock Exchange index saw its biggest pullback since entering bull market territory last week, dropping 2.1 percent to 7,272.65 as investors booked profits ahead of the release of inflation data.
The Consunji Group has received approval from the Philippine Competition Commission to acquire Cemex Holdings Philippines, moving the group closer to acquiring the country’s fourth-largest cement company by the end of 2024.