Filinvest, Philex Mining, Philodrill: Philippine Stocks Preview
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.
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