Aboitiz Power, Fortescue, Holcim: 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.
Aboitiz Power Corp. (AP PM): Philippine President Benigno Aquino ordered the head of a local government unit to stop the planned auction of the 700-megawatt Pagbilao power plant, Ricky Carandang, his spokesman, said. The plant, owned and operated by Team Energy Corp., is under a contract to sell its power to Aboitiz Power. The stock declined 5 percent to 28.30 pesos.
Fortescue Metals Group Ltd. (FMG AU): An investor in Fortescue is seeking as much as A$886.8 million ($890.7 million) from selling shares in the mining company, terms for the sale show. About 128.9 million Fortescue shares were being offered at A$6.76-A$6.88 apiece, said the terms, which named Nassim Investments Pte as the seller. The shares dropped 1.1 percent to A$7.19.
Holcim Philippines Inc. (HLCM PM): The nation’s biggest cement producer re-opened terminal facility in Batangas, a province south of Manila, in anticipation of rising demand in the Philippine capital for the construction material, a stock- exchange filing showed. The stock gained 1.5 percent to 13.20 pesos.
Hyundai Elevator Co. (017800 KS): Hyundai Elevator will sell 3.6 million new shares at 80,800 won apiece next week, the company said in a regulatory filing. The shares gained 5.4 percent to 127,500 won.
Kasikornbank Pcl (KBANK TB): Thailand’s third-biggest bank by assets said fourth-quarter profit climbed 47 percent to 5.28 billion baht ($173 million). That compared with an analyst estimate of 5.18 billion baht. The stock added 0.4 percent to 125 baht.
M1 Ltd. (M1 SP): The Singapore mobile-phone operator reported a 1 percent increase in fourth-quarter net profit to S$37.5 million ($29.2 million). M1 added 0.4 percent to S$2.50.
Rio Tinto Group (RIO AU): The world’s third-largest mining company said it’s considering a bid for a hydroelectric plant near its Saint-Jean-de-Maurienne aluminum smelter in France. Rio gained 0.9 percent to A$87.62 in Sydney.
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