Aboitiz Power Corp. will no longer be a part of the Philippine Stock Exchange index (PSEi) effective Sept. 26, according
Aboitiz Power’s public float fell to 19.9 percent following the conduct of a buyback program this month.
“The company is aware that the purchases may reduce the public ownership level of Aboitiz Power below the minimum required to remain a component of the Philippine Stock Exchange index,” it said. Aboitiz Power said its fundamentals remain intact, and that “this program will create further shareholder value.”
The company initiated the buy-back program as an opportunity to repurchase shares “as Aboitiz Power believes that the current share price range does not reflect the intrinsic value of the company and its future business prospects.”“This action is an expression of confidence by the company in the fundamentals of the country, the energy industry and its business,” it said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Aboitiz Power, Metro Pacific out of PSEiAboitiz Power's share buyback program brings its public float to below 20%, the level required to stay in the Philippine Stock Exchange index
Baca lebih lajut »
Rallies set on Martial Law anniversary on Sept. 21SEVERAL rallies will be staged on Thursday on the 51st anniversary of the declaration of Martial Law.
Baca lebih lajut »
Ilocos Norte residential power rate drops in SeptemberLAOAG CITY, Ilocos Norte – The Ilocos Norte Electric Cooperative (INEC) announced a reduction in the power rate for residential customers in this province this month.
Baca lebih lajut »