Business World
By Neil Jerome C. Morales
STOCK PRICES of San Miguel Corp. (SMC) plunged by more than a quarter after a three-week trading halt was lifted yesterday, falling to levels roughly matching the P110 offer of the recently concluded share sale.
But values should recover soon as all of the conglomerate’s units -- which are likely to conduct similar share sales -- have posted strong performances for the first quarter, San Miguel President and Chief Operating Officer Ramon S. Ang said.
“The speculators will come out in the next few days. After this, it will fly. It will never go down to P110,” Mr. Ang said in a press briefing yesterday.
Share prices closed at P109.50 from the P153 seen in April 12 before trading was suspended to prevent speculation amid the then ongoing share and bond sale.
Read here
By Neil Jerome C. Morales
STOCK PRICES of San Miguel Corp. (SMC) plunged by more than a quarter after a three-week trading halt was lifted yesterday, falling to levels roughly matching the P110 offer of the recently concluded share sale.
But values should recover soon as all of the conglomerate’s units -- which are likely to conduct similar share sales -- have posted strong performances for the first quarter, San Miguel President and Chief Operating Officer Ramon S. Ang said.
“The speculators will come out in the next few days. After this, it will fly. It will never go down to P110,” Mr. Ang said in a press briefing yesterday.
Share prices closed at P109.50 from the P153 seen in April 12 before trading was suspended to prevent speculation amid the then ongoing share and bond sale.
Read here
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