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Dito CME gets SEC nod for share-swap deal

Dito CME gets SEC nod for share-swap deal
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Dito CME shares crash on week of telco launch

Dito CME shares crash on week of telco launch
Mar 10, 2021 3:00 PM PHT
Shares of Dito CME Holdings Corporation fell by 55% on Wednesday, March 10, from its all-time high last February, despite the highly anticipated commercial launch of Dito Telecommunity.
Shares of Dito CME, the most actively traded stock in recent weeks, opened at P11.38 apiece on Wednesday then fell to as low as P8.50, before closing at P9.
Dito's stock was the biggest loser on Wednesday, shedding some 25%.
The current price is less than half of the all-time high of P19 last February 23.
The stock was oversold, breaking several price supports with a trading volume of over 403 million.

Udenna-corporation , Dito-holdings , Udenna-communications-media , Dito-telecommunity , Philippine-stock-exchange , Stock-markets , Telecommunications-companies , Business , Stocks-amp-banking , தீதோ-ஹோல்டிங்ஸ் , பிலிப்பைன்-ஸ்டாக்-பரிமாற்றம்

Share swap enabling third telco backdoor listing hurdles competition regulator

March 10, 2021 | 7:28 pm
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A SHARE SWAP that will facilitate the backdoor listing of third telco DITO Telecommunity Corp. has been approved by the competition regulator, with the market proceeding to revalue the shares of one of the swap parties with a 25% drop.
The revaluation came after the financial advisor engaged to provide a fairness opinion on the swap concluded that the transaction’s terms fell outside its own valuation range, to the advantage of DITO CME Holdings Corp., the Udenna Group’s communications, media and entertainment arm.
The other party to the swap was Udenna Communications Media and Entertainment Holdings Corp. (Udenna CME).

Philippine , Benguet , Philippines , Arjayl-balinbin , Telecommunity-corp , Udenna-group , Udenna-communications-media , Holdings-corp , Entertainment-holdings-corp , Philippine-competition-commission , Entertainment-holdings