{"id":329968,"date":"2024-10-17T00:59:29","date_gmt":"2024-10-16T16:59:29","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=329968"},"modified":"2024-10-17T00:59:32","modified_gmt":"2024-10-16T16:59:32","slug":"trade-the-news-dmc-moves-closer-to-chp-takeover","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-dmc-moves-closer-to-chp-takeover\/","title":{"rendered":"Trade the News: DMC moves closer to CHP takeover"},"content":{"rendered":"\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>Potential Impact of this News<\/strong><\/td><td><strong>POSITIVE on the stock price<\/strong><\/td><\/tr><tr><td><strong>Company<\/strong><\/td><td>DMCI Holdings Inc.<\/td><\/tr><tr><td><strong>Stock Code<\/strong><\/td><td>DMC<\/td><\/tr><tr><td><strong>Long-term Recommendation on the Stock<\/strong><\/td><td>Hold<\/td><\/tr><tr><td><strong>1-Year Target Price<\/strong><\/td><td>PHP 11.89<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>DMCI Holdings Inc. (DMC) on Tuesday completed a key step in its bid to purchase the country\u2019s fourth largest cement maker, Cemex Philippines, for about P17.3 billion.<\/p>\n\n\n\n<p>During a special stockholders\u2019 meeting on Tuesday, DMCI secured the approval of shareholders to raise about P10 billion from the sale of preferred shares to the Consunji family\u2019s privately-held Dacon Corp.<\/p>\n\n\n\n<p>DMCI chair, president and CEO Isidro Consunji said during the meeting on Tuesday the transaction will not dilute voting rights of shareholders holding common shares, and will strengthen the company\u2019s balance sheet.<\/p>\n\n\n\n<p>He added that DMCI will maintain its policy of paying out dividends equivalent to 25 percent of the past year&#8217;s core earnings.<\/p>\n\n\n\n<p>The group is also set to launch a buyout offer to minority stockholders of Cemex Philippines from Oct. 23 through Nov. 21 this year. The tender offer price is estimated at P1.42 each, which is a discount to the company\u2019s current price of P1.51 per share.<\/p>\n\n\n\n<p>After the purchase, the Consunji family intends to keep Cemex Philippines listed on the Philippine Stock Exchange.<\/p>\n\n\n\n<p><em>(News Source: <a href=\"https:\/\/insiderph.com\/consunji-moves-closer-to-cemex-ph-takeover-secures-ok-for-p10-b-financial-boost\">Insider PH<\/a>)<\/em><\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-329968","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=329968"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329968\/revisions"}],"predecessor-version":[{"id":329970,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/329968\/revisions\/329970"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=329968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=329968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=329968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}