News Flash

September 01, 2015, Tuesday
  • CBCP calls on Catholics not to support same-sex marriage. 15 hours ago |
  • 5 mountaineers drown in Nagsasa Creek in San Jose, Tarlac on Monday afternoon. 15 hours ago |
  • Phivolcs records 5 tremors in areas in Southern Mindanao. 15 hours ago |
  • Petron to implement a P 2.25/kilo rollback on the price of LPG on Tuesday. 15 hours ago |
  • Sandiganbayan issues hold departure orders vs. Fmr. Agusan Del Sur Rep. Rodolfo Plaza & 7 others linked to pork barrel scam. 15 hours ago |
  • Binay’s camp claims De Lima is prioritizing political ambition over the resolution of PDAF and SAF 44 cases. 15 hours ago |
  • Binay’s camp calls on Justice Sec. Leila de Lima to resign. 16 hours ago |
  • DILG Sec. Mar Roxas says gov’t & INC leaders have been in contact with one another since the beginning of the rally at DOJ. 16 hours ago |
  • Presidential Spokesperson Edwin Lacierda says INC’s protest peacefully ended through goodwill and convergence of efforts. 16 hours ago |
  • Deputy Pres’l Spokesperson Abigail Valte says talks between gov’t & INC centered on clarification of issues & concerns. 16 hours ago |
  • Palace says there has been no deal made between gov’t and Iglesia ni Cristo. 16 hours ago |
  • Pres. Aquino led the National Heroes’ Day commemoration at the Libingan ng mga Bayani in Taguig City. 20 hours ago |
  • Presidential Spokesperson Edwin Lacierda thanks the INC for ending its 5-day protest rally. 20 hours ago |
  • 9 killed in a collision between a multicab & a truck before dawn Monday in Tacurong City, Sultan Kudarat. 20 hours ago |
  • Pres. Aquino calls on people to unite & set aside personal interests during his message on National Heroes’ Day. 20 hours ago |
  • Bayan Muna Party-list Rep. Neri Colmenares says the right of expelled INC Minister Isaias Samson Jr. to file a complaint must be respected. 20 hours ago |
  • CIBAC Party-list Rep. Sherwin Tugna says DOJ must continue hearing the complaint of expelled INC Minister Isaias Samson Jr. 21 hours ago |
  • Fire kills 6 stay-in workers in a bakery in Taal, Batangas. 21 hours ago |
  • Clean-up of area around EDSA-Shaw Boulevard ongoing following 5 days of INC’s protest. 21 hours ago |
  • Traffic flow now moving along EDSA-Shaw Boulevard in Mandaluyong City. 21 hours ago |
  • Some INC members still trooped to DOJ early Monday morning & left only after INC’s announcement that the protest was over. 21 hours ago |
  • Commuters who were at EDSA-Mandaluyong area about 6 am Monday experienced monstrous traffic jam due to INC rally. 21 hours ago |
  • INC members rejoiced upon hearing their leaders’ announcement at about 8 am Monday that they are ending the protest. 21 hours ago |
  • LRTA says the remaining value stored in the magnetic cards can be transferred to beep cards. 21 hours ago |
  • LRT-2 removes from all its stations the gates for magnetic cards as it paves the way for beep cards. 21 hours ago |
  • Registration for 2016 polls continues in selected malls in the provinces. 21 hours ago |
  • Comelec reminds public to register for 2016 elections before deadline comes on October 31. 21 hours ago |
  • Rains forecast over Central Luzon, Bicol, Isabela, Quirino, Rizal and Quezon. 21 hours ago |
  • Possibility of the LPA near Baler, Aurora developing into a storm remote. 21 hours ago |
  • LPA located at sea 390 kms. east southeast of Baler, Aurora. 21 hours ago |
  • INC evangelist Bienvenido Santiago says INC is concluding its protest as it has reached an understanding with gov’t. 22 hours ago |
  • Iglesia ni Cristo (INC) ends its protest at EDSA-Shaw Boulevard in Mandaluyong City. 22 hours ago |
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Philex hikes rights offer

By Jenniffer B. Austria | Sep. 13, 2013 at 12:02am
Philex Mining Corp., the country’s biggest metal mining company, plans to raise P13.8 billion through a stock rights offering slated next month.

Philex said it would use proceeds from the rights offering to finance the development of the Silangan mining project in Surigao del Norte and refinance debt. The company increased the size of the offering from P12.3 billion.

Philex will offer 2.466 common shares to shareholders at P5.60 per share, a 38.6-percent discount from Thursday’s closing price of P9.12.

Shareholders of record as of Oct. 16, 2013 are entitled to subscribe to one share for every two they own.

Philex hired Hongkong and Shanghai Banking Corp. as the sole global coordinator and tapped BDO Capital & Investment Corp. and BPI Capital Corp. as domestic underwriters.

The offering period starts on Oct. 21 and ends Nov. 4, while the listing date is set on Nov. 12.

The company’s principal shareholders as of end-August are First Pacific Co. Ltd., with 31.50 percent; pension fund Social Security System, 20.51 percent; and Two Rivers Pacific Holdings Corp., 14.98 percent.

Philex said it plans to allot P7.63 billion of the net proceeds from the stock rights offering to finance the capital expenditure requirements of the Silangan project from December this year to June 2015.
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