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Hang Seng	19,055.50	+254.47	1.35%

Ayala Corp. Gains to Four-Year High in Manila on $1.2 Billion Bid Report

By Ian Sayson - 2012-02-06T03:39:11Z

Ayala Corp. (AC) shares climbed to the highest in more than four years after the Philippine Daily Inquirer reported that the company plans to bid for $1.15 billion worth of projects under the government’s so-called public-private partnership program, citing Managing Director Eric Francia.

The stock advanced 3.4 percent to 392 pesos at 11:37 a.m. in Manila, heading for the highest close since Dec. 28, 2007. The stock jumped as much as 5 percent earlier. Francia couldn’t be reached for comment at his office.

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

To contact the editor responsible for this story: Matthew Oakley at moakley@bloomberg.net