AgriNurture, Titan, San Miguel, Sam Woo: Asia Ex-Japan Equity Preview

The following companies may have unusual price changes in Asian trading, excluding Japan. Stock symbols are in parentheses, and share prices are from the previous close, unless noted otherwise.

AgriNurture Inc. (ANI PM): Crop damage caused by Tropical Storm Conson in the Philippines may be “small” and not reach 100 million pesos ($2.16 million), Agriculture Secretary Proceso Alcala told reporters on July 2. AgriNurture, the only publicly traded fruit and vegetable grower in the Philippines, was unchanged at 16 pesos.

Bank of the Philippine Islands (BPI PM): The nation’s largest bank by market value will sell shares in its planned rights offer at a 27 percent to 37 percent discount to the stock’s 15-day volume-weighted average ending July 28, a stock- exchange filing showed. Pricing will be on July 28 while the offer period will be from Aug. 9 to 13, the lender said in a statement to the stock exchange. The stock was unchanged at 46.50 pesos.

China Steel Corp. (2002 TT): Taiwan’s largest producer of the metal will invest NT$14.3 billion ($445 million) in a steel sheet plant, a stock-exchange filing showed. The plant will have annual capacity of 150,000 tons, it said. The stock decreased 0.7 percent to NT$30.20.

Honam Petrochemical Corp. (011170 KS), Titan Chemicals Corp. (TTNP MK): Titan, Malaysia’s biggest producer of olefins and polyolefins, said its board won’t seek an alternative to Honam’s bid for the company in an all-cash deal valued at $1.25 billion. Honam, South Korea’s second-largest ethylene maker and which will pay 2.35 ringgit a Titan share, climbed 8.8 percent to 161,500 won. Titan last traded at 1.85 ringgit on July 15.

Manila Jockey Club Inc. (MJC PM): The Philippine racetrack operator will sell shares in a rights offer at a ratio of one share for every two shares held at par value, a stock-exchange filing showed. The stock decreased 12 percent to 3 pesos.

San Miguel Corp. (SMC PM): The largest Philippine food and drinks company will study offers it received for a stake in its San Miguel Pure Foods Co. (PF PM) unit. “There has been very strong interest from potential buyers,” President Ramon Ang said in a mobile phone text message sent by a spokeswoman. San Miguel Class A shares, which only Filipinos can own, fell 0.7 percent to 68 pesos. San Miguel B shares (SMCB PM), which have no ownership restrictions, decreased 0.7 percent to 69 pesos. Pure Foods was unchanged at 345 pesos.

Sam Woo Holdings Ltd. (2322 HK): The foundation work operator posted an HK$11.7 million ($1.52 million) profit on HK$124 million of sales for its fiscal year ending March 31, a filing with the Hong Kong stock exchange showed. The stock fell 2.7 percent to 14.5 Hong Kong cents.

--- With assistance by Tien Hin Chan in Kuala Lumpur. Editor: John McCluskey

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

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