TODAY'S BUSINESS HEADLINES

Finance chief takes Court of Appeals to task for

For 2nd time, DOTC pushes back timetable for Cebu BRT project

PSEi returns above 7,300-mark

Belle looks beyond gaming, eyes M&As to attain conglomerate status by next year

PNB, Eton Properties lift Lucio Tan holding firm's 1Q profit

Yehey bags regulatory nod to list at local bourse

InterAksyon.com means BUSINESS

MANILA - Yehey! Corp. bagged the approval of the Securities and Exchange Commission to list by way of introduction at the local bourse.

Documents from the SEC showed the company will list 278 million common shares with a par value of P1 each or an aggregate value of P278 million on the second board of the Philippine Stock Exchange.

As of May 21, the firm had 822 stockholders.

In 2007, Vantage Equities Inc. declared property dividends in the form of Yehey shares, reducing the listed company’s ownership in the firm to 68.35 percent from 98.85 percent, with the intention of eventually listing the company in the bourse by way of introduction.

However, before its listing application could be approved, the bourse suspended the Rules on Listing By Way of Introduction.

Through this listing method, a company can have its existing shares traded on the bourse without having to raise fresh capital. Companies that join the bourse through this listing method are required to stage a public offering 12 months after.

Yehey recorded a net income of P11.2 million last year from a net loss of P15.9 million in 2010.

From a pioneering web portal in the late 1990s, Yehey has grown into a digital online marketing solutions provider in the country.

 

InterAksyon.com means BUSINESS

BUSINESS NEWS  
OTHER BUSINESS STORIES  

Business Finance chief takes Court of Appeals to task for
Business For 2nd time, DOTC pushes back timetable for Cebu BRT project
Business PSEi returns above 7,300-mark
Business Belle looks beyond gaming, eyes M&As to attain conglomerate status by next year
Business PNB, Eton Properties lift Lucio Tan holding firm's 1Q profit
Business Sarah Jessica Parker inaugurated 'illegally' built SM mall, BCDA says
National | Business EXCLUSIVE | Zest Air suspends flights to Taiwan
Business | National BIG WINNERS IN 2013 ELECTIONS | Networks GMA, ABS-CBN report advertising windfall
Business MINDANAO POWER CRISIS | US aid sought in sprucing up relic of Fil-Am relations
Business SEC warns public against new pyramiding scam
Business Real estate exposure of banks not yet worrisome, Tetangco says
Business Asean, 6 trade partners begin talks for FTA to rival US-led trans-Pacific initiative
Business DOF to push for higher public float requirement on listed firms