Globe, IP E-Game, PhilWeb, Roxas: Philippine Stocks Preview

Shares of the following companies may have unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the previous close, unless stated otherwise.

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.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net