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.
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