Market Summary:
The Philippines Stocks Exchange is down by .70 or .01% to close at 5,150.11. Most sectors were up, led by Industrial (.27%). Decliners were Services (.45%) and Property (.26%). The Market is now down for three consecutive days.
DMCI Acquires ENK PLC
Conglomerate DMCI Holdings Inc. (PSE:DMC) made a joint offer together with D&A Income Ltd. to acquire share capital of ENK PLC. The joint offerors already has 34.2% shares with valid acceptance. The latest offer give them a controlling interest of approximately 60.7% of the existing share capital. ENK PLC is a UK-based company that focuses on exploration and production of nickel deposits.
EDC Issues Cash Dividend
Energy Development Corporation (PSE:EDC) declared a special cash dividend with below details:
cash = P .04 per common share
ex-date = Sept. 17, 2012
record date = Sept. 20, 2012
payment date = on or before Oct. 16, 2012
FLI Launches New Mid-Rise Project
Property developer Filinvest Land, Inc. (PSE:FLI) launched its latest Mid-Rise Building Project located in Amang Rodriguez, Pasig. One Spatial Pasig is the first of a series of mid rise projects under the "Spatial" product, which offers "more space more value" affordable units to everyone.