EEI, SM Development, Vista Land: Philippine Stocks Preview

The following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses and share prices are as of the most recent trading day.

The Philippine Stock Exchange Index increased 0.7 percent to 4,176.48 at the 12 p.m. close in Manila.

EEI Corp. (EEI PM): Al Rushaid Construction Co., a subsidiary of EEI, was selected for the $200 million contract to provide construction services for Saudi Aramco Mobile Refinery Co.’s clean fuels project in Saudi Arabia, a stock exchange filing showed. The stock climbed 1.6 percent to 3.91 pesos.

SM Development Corp. (SMDC PM): SM Land Inc. acquired 1.19 billion shares while Chief Executive Officer Henry Sy bought 13.15 million shares in SM Development’s stocks rights offer, a stock exchange filing showed. The stock advanced 1.3 percent to 8.66 pesos.

Vista Land & Lifescapes Inc. (VLL PM): The builder won approval from the Securities and Exchange Commission to lend and issue guarantees to subsidiaries and affiliates, a stock exchange filing showed. The developer also won approval to issue preferred shares, it said. The stock was unchanged at 3.03 pesos.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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