Quick takes from around the market
Raslag [ASLAG 2.00 pre-IPO] [link] is on sale now through PSE EASy. Investors can purchase a maximum of P100k worth of ASLAG stock (50,000 shares). The payment terms require buyers to email a scanned copy of proof of payment to be eligible to receive an allocation. In the event that the PSE EASy tranche is oversubscribed, refunds may be issued through participating brokerages, but if your brokerage isn’t “participating” in the digital rebate program, you’re stuck heading to Makati City to pick up a physical check. We’re dying for a proper payment system. Fingers crossed that the PSE can deliver on this promise soon.
ABS-CBN [ABS 9.90] [link] is probably gearing up for an even rougher as Boyet Remulla accepts Marcos Jr’s Secretary of Justice offer. As a congressperson, Mr. Remulla opposed ABS’s franchise renewal on the grounds that it had not paid its taxes properly (contrary to the BIR’s testimony). Not a great sign for ABS, considering how politicized the position has become in recent years.
The SEC [link] approved the name change of Tristate Securities to “DragonFi”, the joint venture between Tony Caktiong and Injap Sia that is being positioned as a “transformational investment platform” that will launch in Q4 of this year. Did COL Financial [COL 3.55 1.39%] just start hearing boss music? I don’t know anything of DragonFi beyond what I’ve seen in this press release, but I feel like Injap has been courting the retail investor very aggressively and is clearly angling this offering to that demographic... which just so happens to be COL’s traditional turf.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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