PSE Circular for Brokers No. 2405-98
PSE Circular for Brokers No. 2405-98 • Philippine Stock Exchange • Circulars for Brokers • Oct 20, 1998
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October 20, 1998 PSE CIRCULAR FOR BROKERS NO. 2405-98 October 16, 1998 PRESS RELEASE Metro Pacific announced today that it has postponed the second tranche of its capital-raising exercise, which had been planned for the fourth quarter of 1998 until conditions improve in the region's equity markets. The second stage initially announced on 8th June was to have involved the offer of warrants to shareholders on the same terms as Metro Pacific's successful P14 billion rights offer in June. LexLib In view of the prevailing poor market conditions, however, the company's financial advisors PNB Capital and ING Barings, have re-advised management against proceeding with the exercise. Metro Pacific intends to revisit the issue once market conditions strengthen.
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