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ABS-CBN loses P258.593Million

Johannus

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ABS-CBN Corp. lost P258.593 million in market capitalization on Monday, as its shares fell by 1.76% at the close of trading after government lawyers asked the Supreme Court to forfeit the company's legislative franchises. Shares of ABS-CBN plunged to P16.70 apiece, down by 30 centavos or 1.76% from P17.00 per share last Friday.

ABS-CBN Corp. lost P258.593 million in market capitalization on Monday, as its shares fell by 1.76% at the close of trading after government lawyers asked the Supreme Court to forfeit the company's legislative franchises.

Shares of ABS-CBN plunged to P16.70 apiece, down by 30 centavos or 1.76% from P17.00 per share last Friday.

In the process, the company lost P258.593 million of its market capitalization to P14.394 billion, down from P14.653 billion on Friday.

Sought for comment, Diversified Securities Inc. equity trader Aniceto Pangan said the drop could be attributed to the quo warranto filed against the company.

"It creates uncertainty on the part of the company if it cannot renew its franchise congressional approval," he explained in a text message.

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That Poppy

Forum Veteran
Its natural na malaki mawala sa ABS CBN sa stock market. Hindi bumibili ang investor ng stock sa kalaban ng gobyerno. And investors are just following the market trend.
 

-Dark-

Eternal Poster
hnd nmn mawawala un abs cbn bka sguro kung mwala man un papalitan nlng sguro ung name ng cbn abs

tska sayang ung tv plus namen ha
 

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