DNA - Philab FOO (Follow-On Offering)

Philab Holdings Corp.

DNA plans to raise as much as P3.4 billion in a public offering (Follow-On Offering or FOO) after its backdoor listing.
https://www.facebook.com/PSEStocks/posts/996713230458971

In a disclosure to the Philippine Stock Exchange, the company that served as the backdoor listing vehicle of Philab Industries announced its intention to issue a maximum of 500 million common shares at a price between P3.25 and P6.75 per share.
http://edge.pse.com.ph/openDiscViewer.do?edge_no=c10d959858ac5ce43318251c9257320d#sthash.oRqllS2V.dpbs

DNA's price closed at P6.99 per share last Friday, a 3.56% ~ 115% premium from the indicative offer price range.

Trading Plan
- Expect a deep discount of the final offer price.
- Buy only if you can get it near the lower end of the indicative offer price.

Comments

Post a Comment

Popular posts from this blog

JFC looks toppish

Image
Jollibee Foods Corporation JFC's price action is now at the resistance line of an upward price channel. Yesterday's candlestick pattern also needs monitoring as it may develop into a bearish star pattern variant like an Evening Star pattern *Major support at 260 Trading Plan - For short term trading position, take profit or scale down position. - Set trailing-stop on remaining position.
Read more

PHEN harmonic pattern update 2

Image
PHINMA Energy Corporation PHEN technically completed the Bullish Shark harmonic pattern and fully tested the 2nd PRZ (Potential Reversal Zone) area around 113% retracement. A Bullish Engulfing pattern also formed up around the PRZ area - a potential trend reversal candlestick pattern. See previous analysis of this harmonic pattern here: https://psetrends.blogspot.com/search/label/PHEN Trading Plan - Buy as close to the 113% retracement PRZ area. - Set stop-loss a few points below the recent swing-low. - Potential TPs are the 38.2% and 61.8% retracements.
Read more

AGI breakout update

Image
Alliance Global Group, Inc. AGI is on a breakout continuation after filling the gap at 13.90~13.96 which also serves as its major resistance area. The measured price target of this breakout is at 15.30~15.60 range. *Immediate resistance area is around 14.80~15.00. It's already up +17% on position play (see link below for more details on this trade recommendation): https://psetrends.blogspot.com/2017/03/agi-on-range-bound-price-action.html See previous analysis: https://psetrends.blogspot.com/2017/04/agi-on-breakout.html
Read more