The following listed companies in the Philippines made announcements before the Philippine Stock Exchange (PSE) opened Tuesday that could affect the trading of their shares:
STI Education Systems Holdings (PSE:STI) welcomed the news of the high credit rating of PRS Aa assigned by Philippine Rating Services Corporation (PhilRatings) for the P3-billion issue of its subsidiary, STI Education Services group.
PRS Aa is the second highest rating category on the existing credit scale of PhilRatings. Obligations rated PRS Aa are of high quality and are subject to very low credit risk.
According to STI Education System Holdings, the key factors that led to the PRS Aa rating for the P3-billion bond issue of STI ESG include STI ESG’s ample cash flows with minimal reliance on debt, stable demand for its business, its position as an established educational institution with the ability to adapt industry shifts and its consistently improving revenues.
Vista Land & Lifescapes Inc (PSE:VLL) announced share buy-back transactions dated 23 January 2017. The company said it purchased 850,00 shares priced at P5 each and 67,300 shares priced at 5.01 a piece. The cumulative number of shares purchased to date amounted to 282,363,200.
Phinma Corporation (PSE:PHN) has confirmed reports about the continued overseas push for its education business. Phinma Corporation told the Philippine Stock Exchange that it is targeting an enrollment of 100,000 students within the next three to four years, largely from its schools in the Philippines. The company has also begun to expand outside the Philippines.
Phinma opened its first training center in Myanmar in August 2016, offering care-giving courses in partnership with Victoria Hospital, one of the largest private health care service providers in the Southeast Asian country.
“We continue to look for more schools to acquire and we continue to experience very robust growth in the schools that we are in,” said Phinma President Ramon del Rosario Jr. – BusinessNewsAsia.com