LMG Chemicals Rises to Highest Since 1996 on Purchase Offers

LMG Chemicals Corp. climbed to the highest in more than 15 years in Manila trading after parent Chemical Industries of the Philippines Inc. said it received offers to purchase its shares in LMG.

The stock gained 1.9 percent to 8.15 pesos as of 10:02 a.m. local time, set for the highest close based on prices going back to October 1996. The stock is heading for a 400 percent, eight- day rally. The Philippine Stock Exchange Index climbed 0.8 percent.

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

To contact the editor responsible for this story: Cecilia Yap at cyap19@bloomberg.net

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