RSS

Rockwell Land to widen public float

01 Jun

Rockwell Land Corp. (ROCK) intends to widen its public float in a move seen to help boost the company’s stock price which it feels is undervalued at present.

With Ayala Land Inc. at 52%, SMPH at almost 30%, and Megaworld at 33%, the company thinks that this is a very clear indication to increase its public float from the current 12.9%

As a move to bolster the company’s recurring income portfolio, Rockwell is doubling its spending this year to PHP 13.0 billion from last year’s PHP 8.7 billion primarily to ramp up development of office and retail projects.

Stock Picks, Target Prices and Buy/Hold/Sell Recommendations! (size 728x90)
Get FREE stock analysis, special reports and brokers’ recommendations!

Aside from its upcoming office and retail properties, Rockwell said the company is continuing the expansion of its residential portfolio as well with the recent acquisition of two prime residential properties expected to deliver an additional 230,000 square meters of gross floor area.

Advertisements
 
Leave a comment

Posted by on June 1, 2015 in Corporate News, ROCK, Stock Market

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: