Stocks, peso lower as November trading month ends
Stocks ended the final trading day of the month lower on Tuesday, bringing the Philippine Stock Exchange index to a loss of around six percent for November.
The index closed at 6,781.20, down 44.20 points. Only the financials and industrials sector posted slight gains.
The peso settled lower at P49.73 against the US dollar from P49.71 on Tuesday.
Meanwhile, Shakey’s Pizza Asia Ventures Inc, informed the Philippine Stock Exchange, through its legal advisor, on Tuesday the initial public offering of its company is P11.26t per share.
“Romulo Mabanta Buenaventura Sayoc & De Los Angeles, legal advisor to the joint lead managers and joint domestic underwriters and sole global coordinator and sole bookrunner, informed the exchange that the final offer price for Shakey’s Pizza Asia Ventures, Inc.’s initial public offering is P11.26 per offer share,” a disclosure to the exchange said.
The Philippine Stock Exchange said 1,531,321,053 shares of Shakey’s Pizza Asia Ventures will be sold. The start of the offer period is on December 2 and will end on December 8, according to the company’s offering memo to the exchange. DMS