{"id":330656,"date":"2024-11-29T07:44:09","date_gmt":"2024-11-28T23:44:09","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330656"},"modified":"2024-11-29T07:46:42","modified_gmt":"2024-11-28T23:46:42","slug":"trade-the-news-phn-completes-p1-billion-stock-rights-offering","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-phn-completes-p1-billion-stock-rights-offering\/","title":{"rendered":"Trade the News: PHN completes P1-billion stock rights offering"},"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 31.88<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

PHINMA Corp. (PHN) has completed its P1-billion stock rights offering (SRO) with the shares listed on the Philippine Stock Exchange on Wednesday.<\/p>\n\n\n\n

The SRO comprised 50 million shares priced at P20 each, which were offered from Nov. 13 to 19, the conglomerate said in a regulatory filing.<\/p>\n\n\n\n

Of the total, PHINMA will allocate P250 million for the establishment of PHINMA Hospitality\u2019s TRYP by Wyndham hotel in its 21-hectare Saludad township in Bacolod City, while P210 million will go to the development of Union Insulated Panel Corp.\u2019s new facility in Pampanga with an annual capacity of one million square meters.<\/p>\n\n\n\n

Some P200 million will be for PHINMA Property Holdings Corp.\u2019s projects in Bacolod, Cebu, and Davao.<\/p>\n\n\n\n

\u201cThese projects will allow us to fulfill the housing aspirations of low- to mid-income Filipinos,\u201d PHINMA Chairman and Chief Executive Officer Ramon R. del Rosario, Jr. said during the SRO\u2019s listing ceremony.<\/p>\n\n\n\n

PHINMA will use P170 million for the 58 projects secured by PHINMA Solar Energy Corp. in the government\u2019s Green Energy Auction Program, while P114 million will go to the establishment of Philcement Corp.\u2019s cement manufacturing facility in Davao del Norte with a yearly capacity of two million metric tons.<\/p>\n\n\n\n

The conglomerate will allot P239.56 million for investments in socialized housing, food security, healthcare, and the green industry, along with general corporate purposes.<\/p>\n\n\n\n

\u201cThe offering provides existing eligible shareholders and new ones in the form of institutional investors with an opportunity to deepen their investment in PHINMA\u2019s mission to help build our nation through competitive and well-managed business enterprises that enable Filipinos to attain a better quality of life,\u201d Securities and Exchange Commission Commissioner McJill Bryant T. Fernandez said.<\/p>\n\n\n\n

\u201cPHINMA has successfully forayed into various industries and established its mark in these sectors through the years. Its diverse interests are also a reflection of its commitment to pursuing businesses that will uplift the lives of Filipinos,\u201d Philippine Stock Exchange President and Chief Executive Officer Ramon S. Monzon said.<\/p>\n\n\n\n

(News Source: Business World<\/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-330656","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\/330656","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=330656"}],"version-history":[{"count":2,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330656\/revisions"}],"predecessor-version":[{"id":330662,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330656\/revisions\/330662"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}