Key events for the PSE this week
This will turn out to be a pretty big week for Ayala Corp [AC 616.00 4.35%], as its telecom subsidiary, Globe [GLO 2030.00 2.59%], conducts its stock rights offering (SRO), and its banking subsidiary, BPI [BPI 89.50 0.56%], starts to navigate the complicated approvals of a potential merger between it and Robinsons Bank.
For GLO, the SRO offer period will run from today, October 3, to Friday, October 7.
The SRO offer is available to all shareholders of record as of September 21, 2022.
Monday is also the day that Megaworld’s [MEG 2.04 3.32%] 1,572,282,881 shares in its REIT subsidiary, MREIT [MREIT 14.00 0.57%], are released from mandatory lockup.
MB BOTTOM-LINE
Unspoken in all of this, of course, is the carnage that we’ve seen in the market.
Most investors are probably thinking more about the red in their portfolios than they are about cute lockup expirations or SROs selling for P1,680/share.
If they’re not thinking about that, they’re probably thinking about the rising cost of food and gas due to inflation, or they’re thinking about the continuing devaluation of the peso and what that might mean in the short term and in the long term.
All of those lines of thought share a common focus: where does it stop?
Where does the PSEi’s slide end?
When will inflation come under control, and how high will rates need to rise before that is accomplished?
How low will the peso go?
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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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