Dennis Uy's Dito CME defers P8-B stock rights offer

MANILA, Philippines – The Dennis Uy-led Dito CME Holdings Corporation has postponed its P8-billion stock rights offering due to “less than ideal” market conditions.Philippine Stock Exchange noticeDito CME is holding off on its stock rights offering after the management “determined that current market conditions are less than ideal to pursue the offering.”

A rights offering is a company’s invitation for existing shareholders to buy additional stocks at a discounted price. “This should not be construed as an approval by the exchange of the deferment of the offering. Furthermore, this is without prejudice to any regulatory action that the exchange may pursue in order to ensure full compliance with the applicable rules and for the protection of the investing public consistent with the mandate of the exchange, as a self-regulatory organization, to maintain a fair and orderly market,” Dito said in its disclosure to the PSE.

The investors lost interest. Pinaglaruan nila yung price ng $Dito to the point na napaka daming naipit at natalo. Sila lang kumita ng malaki.

Work from home setup since the start of pandemic, online shopping… “less than ideal”? China 🇨🇳 ❌👎🏻

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