Bloomberg News

Philippine Stocks: IP E-Game Ventures, Manila Electric Co.

December 12, 2011

Dec. 13 (Bloomberg) -- Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 10:45 a.m.

The Philippine Stock Exchange Index gained 0.1 percent to 4,282.11.

IP E-Game Ventures Inc. (EG PM) advanced 2.2 percent to 23 pesos, snapping a two-day loss. The company said a unit signed a publishing agreement with Take-Two International S.A. for an online sports game.

Manila Electric Co. (MER PM), the largest Philippine power retailer, climbed 3.7 percent to 244.80 pesos, the first gain in four days. The company plans to offload its stake in Rockwell Land Corp. by distributing its holdings as a property dividend that will be followed by a listing of the real-estate developer.

--Editor: Matthew Oakley

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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