Published at Philippine Daily Inquirer By: Conrado R. Banal III
This little-known company, together with its rather unusual name of “8990 Holdings,” just listed on the stock market on Wednesday some P9 billion worth of shares in a follow-on public offering (FPO).
Okay, it may be too early to tell how the market rates the sizable FPO, whether or not it will turn out to be a “hot one.”
Still, the share prices of 8990 Holdings (under the trading symbol HOUSE) have been steady in the past two years, or ever since its backdoor listing. The listed company was originally known as IP Converge Data Center, an IT company which 8990 Holdings acquired a few years ago in an attempt to tap, eventually, the market for funding. Read more...