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.
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