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Stock Commentary

Quick takes from around the market

Merkado Barkada
Quick takes from around the market

DDMP [DDMPR 1.54 1.99%] [link] Q1 profit up 40% y/y to P559 million. Revenues were up 14% and rent income was up 16% thanks to an increase in rental rates. Most notably, however, was that DDMPR paid 97% less income tax expense in Q1/22 than it did the year previous, which DDMPR explained was a “result of the REIT tax incentive”. DDMPR’s pre-tax income was still up 14% though, so it’s not like all of the gains are paper gains. The company also announced its Q1 dividend (it’s second div this month), payable on June 30. The Q1/22 dividend is a slight increase over the Q4/22 dividend that was just announced a couple of weeks ago.
 

Raslag [ASLAG 2.00 pre-IPO] [link] IPO offer will get priced today. ASLAG’s bankers have been busy checking around to see what people might pay for this stock, and they’re going to set the price at the highest number where it’s still possible to sell all the shares. It’s possible that we’ll hear about it during the trading day, but this isn’t a hard deadline. It can sometimes take a day for the pricing info to filter down to us.
 

DFNN [DFNN 3.04 1.33%] [link] modifies its stock rights offering (SRO) to be priced at “market price with a 20% discount”. The entitlement ratio will be 1 SRO share for every 2 DFNN shares already owned. No dates were provided for the offer period or listing date. DFNN planned to use the proceeds to expand its product offerings and marketshare in the growing virtual gaming market. 

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Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.
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.

DFNN INC.

DOUBLE DRAGON PROPERTIES CORP.

PHILIPPINE STOCK EXCHANGE

RASLAG CORP.

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