Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.
The Philippine Stock Exchange Index declined 1.2 percent to 5,220.55.
Ayala Corp. (AC PM), owner of the nation’s biggest developer, decreased 5 percent to 435 pesos, the sharpest loss since June 4. The company sold 15 million shares at 430 pesos each, Chief Finance Officer Delfin Gonzalez said.
Megaworld Corp. (MEG PM), a builder of residential and office towers, sank 4.9 percent to 2.15 pesos, the sharpest loss since May 16. The company said it will buy shares that stockholders will pass up in the rights offer of unit Empire East Land Holdings Inc. (ELI PM). Empire East decreased 3.4 percent to 86 centavos.