|
FILINVEST Development Corp. (FDC) soared 34.615 percent
to a 30-day high of P7 Friday, from its month’s low of
P5.20 on September 25. It closed at its opening price
and session’s low of P6.70.
The
Gotianun-controlled company, which was the fourth top
performer in the week ending October 5, 2007, did not
have any filing that would justify its big climb in less
than a month except for a press release on FDC’s plan to
participate in the bidding for the government’s
60-percent remaining holdings in PNOC Energy Development
Corp.
“FDC is
looking into the investment potential offered by this
bidding to provide further value to our stockholder,”
Josephine Gotianun-Yap, FDC president, said in a
statement posted on the PSE web site on October 25,
2007. “We also see it as a unique opportunity to enter
the renewable energy growth sector,”
FDC, the
holding company of the Gotianun group, owns Filinvest
Land Inc., Filinvest Alabang Inc. and East West Banking
Corp. Recently, it acquired Pacific Sugar Holdings
Corp., which owns and manages two sugar mills with a
combined milling capacity of 9,000 tons per day.
The
week’s best performer was Atok-Big Wedge Co., which had
only two transactions in the last two months. On October
5, 2007 it opened at P8.20, and closed at its session’s
high of P9.20 on a turnover of P26,100. The stock last
changed hands on September 22, 2007, when it traded
1,000 shares at P7.50.
Atok-Big
Wedge is among the market’s rarely trades issues. Its B
shares were last traded on
July 2, 2007, when it closed at P10.
As of
June 30, 2007, Atok-Big Wedge said it had three
stockholders with ownership exceeding five percent.
Financing Corporation of the Philippines owns
12,238,313, or 48.528 percent; Progressive Development
Corp., 4,416,713.94, or 17.513 percent; and Antonio A.
Picazo, 1,860,498, or 7.377 percent.
In a
filing, Atok-Big Wedge told regulators its deficit
amounted to P3,481,669 as of March 31, 2007, down from
P3,542,223 on December 31, 2007.
In
explaining the deficit, Atok-Big Wedge said “there was
no substantial income derived from its 100-percent owned
subsidiary Atok Gold Mining Co. Inc.”
Meanwhile, Pacifica Inc. continued surging. Its A shares
closed the week at P0.27 after opening the day’s session
at P0.25, peaked at P0.27, dropped at a low of P0.235.
Its B shares last traded on May 16, 2003, when it closed
at P0.0024. |
