PSE Market Summary:
The Philippine Stocks Market was up for a third day, gaining by 45.35 or .79% to close at 5,797.74. Total trades reached 20,398 with 77 stocks advances, 91 declines and 45 stocks unchanged.
ARA Purchases Land in Bulacan
Araneta Properties Inc. (PSE:ARA) has entered into an agreement with BDO Strategic Holdings, Inc. to acquire four parcels of land in San Jose Del Monte, Bulacan. The properties will be part of ARA's land bank inventories.
RCB to Seek Private Placement
Rizal Commercial Banking Corp. (PSE:RCB) is currently in the process of negotiating private placement of primary common shares valued at $100 million. The amount will be equivalent to 7% ownership of RCB.