Shares of Pacifica, Inc (PSE:PA) traded 13.51 percent higher to Php0.042 at 10 am Tuesday at the Philippine Stock Exchange.
The share price of PA was higher than the closing price of Php0.037 on Monday despite the absence of market moving news.
A total of 1.379 million shares exchange hands less than two hours of the opening bell with the highest traded price at Php0.044.
Shares of Pacifica, Inc, however traded below its 52 week high of Php0.067 but was nearly double the 52 week low of Php0.028.
PA was incorporated on September 2, 1957 to engage in exploration, drilling, and exploitation of oil, gas, and other volatile substances.
On October 6, 2000, the Securities and Exchange Commission (SEC) approved its conversion into a holding company including the change in par value.
But timing and funding constraints prevented PA’s management from pursuing investment in Build-Operate-Transfer projects as well as in real estate and bio-ethanol fuel businesses.
Meanwhile, shares of A Brown Company, Inc (PSE:BRN) traded 10.91 percent higher at Php0.61 at 10:20 am Tuesday, from Php0.55 a share last Monday.
A total of 622,000 shares exchanged hands in early trading Tuesday with the highest bid registered at P0.62 a share.
BRN is primarily engaged in the business of real estate development located in Cagayan de Oro City and Initao in Misamis Oriental; Cainta, Rizal; and Valencia City, Bukidnon; and Butuan City, Agusan del Norte.
BRN, through its subsidiaries, also ventured into oil palm nursery and seedlings distribution, palm oil milling, operation of hotels, real estate brokerage, power generation, and investment in gold mining assets. – BusinessNewsAsia.com