Quick takes from around the market
PEZA [link] said that BPO firms could still retain their tax incentives with a 70%/30% on-site/off-site split. BPO firms were allowed 10%/90% during the pandemic, but the Fiscal Incentives Review Board had pushed for a return to normal. WFH is better for employees, but on-site work is better for commercial tower REITs, property developers, and a whole host of other businesses that sell products to people who work in the towers (convenience stores, transpo groups, etc).
Globalport 900 [PORT suspended] [link] was put on notice of possible forced delisting in July of this year if the company fails to increase its public float to at least 10%. The stock has been suspended for 8 years for failure to submit financial reports, so this clownery shouldn’t come as a surprise to anyone. The PSE is home to many zombie companies like PORT that “exist” only insofar as they haven’t yet been kicked off the exchange for failing to abide by its most basic rules. The PSE is long overdue for a very aggressive spring cleaning. Does PORT spark joy?
Shakey’s Pizza [PIZZA 7.90 0.63%] [link] will list 152 million shares sold to JE Holdings, the Gokongwei Family’s private investment company, at ?8.20/share. At the time of the investment (May 2021) the sale price was at a 10% premium to PIZZA’s stock price; since then, PIZZA’s price has climbed the mountain to ?10/share, and fallen right back down to basically the exact same place. The listing won’t adjust PIZZA’s price (the shares were already “outstanding”, just not listed), but it will mean that the shares are openly tradeable on the market now.
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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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