The day after the Philippines’ largest phone company plunged by a record 19% following an audit disclosure that shocked investors, chairman Manuel Pangilinan tweeted that his arowana, a freshwater fish, had just died.
The Social Security System incurred an assumed loss of roughly P3 billion from its investment in PLDT as of Monday’s close or the first trading day since the telco giant announced a P48 billion budget overrun.
The Philippine Stock Exchange is hoping to help companies raise up to P200 billion in fresh capital this year as it expects a record number of initial public offerings this year.
In a press briefing after the bourse’s annual stockholders’ meeting, PSE President Ramon S. Monzon said they have so fa