Bloomberg News

Philippine Equity Movers: AgriNurture, GT Capital, Puregold

July 12, 2012

Shares of the following companies had unusual moves in Philippine (PASHR) trading. Stock symbols are in parentheses and prices are as of the close in Manila. The Philippine Stock Exchange Index (PCOMP) fell 0.6 percent to 5,205.19, the lowest close since June 26.

AgriNurture Inc. (ANI) , a fruit and vegetable grower, added 1.2 percent to 8.41 pesos, the sharpest gain since June 29. The company said it would set up a unit called AgriNurture HK Holdings Ltd. as a vehicle for overseas acquisitions and plans to list the subsidiary in Hong Kong. The company also said it would pay property dividends consisting of AgriNurture’s shares in The Big Chill Inc.

GT Capital Holdings Inc. (GTCAP) climbed 4.8 percent to 531.50 pesos, the highest close since the stock began trading on April 20. The company’s 2011 growth momentum was sustained in the first half of 2012, a stock-exchange filing showed. “Key economic indicators for the first half are pointing toward an even stronger second half that will match if not exceed the 6.4 percent gross domestic product growth of the first quarter,” Chairman Arthur Ty said. “In this ideal environment, our company, which is focused on domestic consumption, will do extremely well.”

Puregold Price Club Inc. (PGOLD) , an operator of supermarkets and hypermarkets, sank 4.9 percent to 27 pesos, the steepest loss since Feb. 23, after its owner sold shares at a discount. The company said the Co family, which controls Puregold, completed the sale of 250 million shares at 26 pesos each through a private placement, boosting its so-called public float to 32 percent.

To contact the reporter on this story: Ian 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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