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Philippine stocks: Gainers, losers, market-moving news – December 2021

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Philippine stocks: Gainers, losers, market-moving news – December 2021

WHAT YOU NEED TO KNOW

Buy, sell, or hold? Who are the top gainers? How about the biggest losers? Are the bulls winning over the bears? Which company is going public next?

Bookmark and refresh this page for the latest news and analysis on stock market movers, corporate and financial news, business deals, and the economy in the Philippines.

LATEST UPDATES

Most active stocks and PSEi closing – December 21, 2021

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Dito users reach 5 million

Third telco player Dito Telecommunity said on Monday, December 20, that it now has 5 million users since launching commercially in March.

“As of December 18, Dito has hit 5 million subscribers just nine months after our commercial launch and have earned more than P2 billion in revenues from our prepaid services,” said Dito chief administrative officer Adel Tamano in a statement.

Read more.

Aika Rey

Shell secures P6-billion loan from BPI

Pilipinas Shell Petroleum Corporation secured a five-year, P6-billion loan from the Bank of the Philippine Islands.

Shell said the loan will reduce its exposure to short-term volatility in the market. The oil firm also intends to maximize the low interest rate for its cash requirements.

“This will not impact the gearing of [Shell] which remains healthy,” it said.

Aika Rey

Peso-dollar exchange rate – December 20, 2021

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Most active stocks and PSEi closing – December 20, 2021

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Peso-dollar exchange rate – December 17, 2021

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Most active stocks and PSEi closing – December 17, 2021

Peso-dollar exchange rate – December 16, 2021

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Most active stocks and PSEi closing – December 16, 2021

Converge eyes 2 new subsea cable system deals

Converge ICT Solutions is eyeing to spend $200 million for another subsea cable system connected to the United States.

Converge chief executive officer Dennis Uy said on Wednesday, December 15, that the submarine cable system to be linked to the US will have three fiber pairs, compared to just one in the Bifrost cable system which the company has usage rights to.

He added that Converge is planning to invest in another submarine cable system in the Asia Pacific – which has already been built – but he declined to give further details.

“I can’t say yet. But we are still waiting for the approval of the US FCC (Federal Communications Commission),” said Uy in Filipino.

Aika Rey