SRO a bust but Dennis Uy avoids massacre: DITO dips to 52-week low but ends on the green lane

Money-strapped businessman Dennis Uy dodged a bloodbath on the resumption of shopping for and promoting of DITO CME Holdings.

Market watchers anticipated DITO to get thrashed after its shopping for and promoting was halted for a day because of fallout from its P8 billion stock rights offering (SRO) flop.

DITO dropped to a 52-week low of P4.61 nonetheless closed 1.3 % as a lot as P5.15 on February 2 from P5.08 on January 28.

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Whole turnover was robust at P169.44 million with web abroad purchasing for of P10.49 million.

The Philippine Inventory Alternate ordered a halt in shopping for and promoting of DITO on January 31 after administration unilaterally launched the cancellation of its SRO 4 days after its January 25 offering interval deadline.

The PSE lifted the shopping for and promoting suspension after merely sooner or later as DITO blamed “lower than ideally suited market situations” for the SRO flop.

$DITO going to get smoked regardless of the SRO decision

— Will Cabangon (@wmcabangon) January 29, 2022