{"id":330108,"date":"2024-10-29T01:19:31","date_gmt":"2024-10-28T17:19:31","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330108"},"modified":"2024-10-29T01:19:33","modified_gmt":"2024-10-28T17:19:33","slug":"trade-the-news-phn-all-set-for-p1-billion-sro-next-month","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-phn-all-set-for-p1-billion-sro-next-month\/","title":{"rendered":"Trade the News: PHN all set for P1-billion SRO next month"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Phinma Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>PHN<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 32.23<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Phinma Corp. (PHN) has been cleared to proceed with its up to P1 billion stock rights offering (SRO) next month.<\/p>\n\n\n\n

The diversified conglomerate of the Del Rosario Group said it has secured the necessary approvals for its SRO, proceeds of which will be used for its investment and expansion initiatives.<\/p>\n\n\n\n

Phinma said that the Securities and Exchange Commission issued the notice confirming that the P1-billion transaction is exempt from the registration requirements under the Securities Regulation Code last Oct. 16.<\/p>\n\n\n\n

The Philippine Stock Exchange (PSE), on its end, gave its go signal to the listing of the rights shares under the SRO on Oct. 21.<\/p>\n\n\n\n

Also approved by the PSE is the indicative timetable of the SRO activities of the company.<\/p>\n\n\n\n

Based on Phinma\u2019s indicative timetable, the offer period will run from Nov. 13 to 19, with the listing date eyed on Nov. 27, 2024.<\/p>\n\n\n\n

Phinma intends to offer up to 51.49 million common shares to be issued from the unissued capital stock of the company at an offer price range of P19.42 to P21.55 per share.<\/p>\n\n\n\n

The offer price will be subject to final pricing set on Oct. 31, 2024.<\/p>\n\n\n\n

AB Capital & Investment Corp. will serve as the issue manager, bookrunner and lead underwriter for the transaction.<\/p>\n\n\n\n

Phinma said it would use proceeds from the SRO to support initiatives of its construction materials group, particularly Phinma Solar\u2019s Green Energy Auction Program projects and Philcement\u2019s modern cement manufacturing plant in Davao del Norte.<\/p>\n\n\n\n

(News Source: Philippine Star<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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-330108","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\/330108","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=330108"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330108\/revisions"}],"predecessor-version":[{"id":330110,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330108\/revisions\/330110"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}