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Filinvest, Philex Mining, Philodrill: Philippine Stocks Preview

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Nov. 26 (Bloomberg) -- The following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses and share prices are as of the most recent trading day.

The Philippine Stock Exchange Index decreased 0.7 percent to 4,097.49.

Filinvest Development Corp. (FDC PM): The company won shareholders’ approval to raise funds through the sale of as many as 3 billion shares, a stock exchange filing showed. The stock decreased 2.4 percent to 4.49 pesos.

Philex Mining Corp. (PX PM): The largest Philippine metals producer said it agreed to give a three-year, $10 million credit facility to its wholly-owned unit Forum Philippine Holdings Ltd. to help it fund its share of the cost of a gas project. Philex decreased 2.9 percent to 13.60 pesos.

Philodrill Corp. (OV PM): Production at the Philippines’ Galoc oil field has resumed after suspending output in late-October due to a typhoon, shareholder Philodrill said in a stock exchange filing. The stock was unchanged at 1.4 centavos.

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

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

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