Bloomberg News

Philippine Stocks: AgriNurture, ATR KimEng, DFNN, Metro Pacific

October 24, 2011

Oct. 24 (Bloomberg) -- Shares of the following had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close in Manila.

The Philippine Stock Exchange Index increased 0.8 percent to 4,201.08, the first gain in three days.

AgriNurture Inc. (ANI PM), a fruit and vegetable grower, increased 2.8 percent to 10.02 pesos, the sharpest gain since Oct. 6. The company is planning three or four more acquisitions this year to double sales, BusinessWorld reported, citing Antonio Tiu, AgriNurture’s president. Tiu couldn’t be reached at his office for comment.

ATR KimEng Financial Corp. (ATRK PM) climbed 1.4 percent to 4.40 pesos, the highest close since Aug. 12, after saying Kim Eng Holdings Ltd. will offer to buy the shares that it doesn’t own in the company.

DFNN Inc. (DFNN PM), a provider of Internet-based stock market investing services, decreased 5.7 percent to 6.65 pesos, the sharpest loss since Sept. 26. The company said it’s in talks with shareholder MAA International Assurance Ltd., which plans to boost its stake in DFNN to close to 10 percent.

MAA, which owns 571,000 shares of the company, is interested in buying additional primary shares through a so- called private placement, a stock-exchange filing showed.

Metro Pacific Investments Corp. (MPI PM), a unit of Hong Kong’s First Pacific Co., advanced 1.7 percent to 3.05 pesos, snapping four days of losses. Metro Pacific said it agreed to buy the company that operates the Cardinal Santos Medical Center for 300 million pesos ($6.9 million).

--Editor: Shiyin Chen

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net


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