The Philippine Stock Exchange Index (PCOMP) fell 0.5 percent to 4,775.93.
Globe Telecom Inc. (GLOPM) (GLO PM): The nation’s second-largest mobile phone services provider will sign a $700 million agreement with Huawei Technologies Co. and Alcatel-Lucent to modernize its network, Philippine President Benigno Aquino’s communications office said in a statement yesterday. At least $570 million of the total amount will be spent this year and in 2013, Aquino’s communication office said. The stock fell 0.5 percent to 1,170 pesos.
IP E-Game Ventures Inc. (EG) : The Manila-based online games publisher will sell 1.33 billion primary and secondary shares at 28 centavos each, a stock exchange filing showed. The company expects to raise 372 million ($8.7 million), it said. The stock rose 5.4 percent to 19.5 centavos.
PhilWeb Corp. (WEB) : The company posted a 45 percent increase in profit last year to 914 million pesos, a stock exchange filing showed. The stock decreased 0.1 percent to 15.58 pesos.
Roxas Holdings Inc. (ROX) : The nation’s biggest producer of raw sugar posted 99 million pesos in profit for the four months ended Jan. 31, compared with a net loss in the same period a year ago, a stock exchange filing showed. The stock was unchanged at 2.42 pesos.
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