Philex shares surge as another bid war looms
August 10th, 2009
Filed under: Operator - Philex
By Doris Dumlao
Philippine Daily Inquirer
First Posted 03:04:00 08/08/2009
SHARES OF PHILEX MINING CORP. SURGED by 13.9 percent yesterday on prospects of a potential bidding war between First Pacific Co. Ltd. of Hong Kong and San Miguel Corp. president Ramon Ang over a significant government block in the country’s largest mining company.
Defying a general downturn in the local stock market, Philex shares went up to P9 from the previous day’s P7.90 following a statement from Ang indicating interest on a 22-percent stake held by the state-owned Social Security System.
Leave a Reply
Please note that your comments will be subject to moderation by the PMEA Blog Administrator.