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ACEN’s developments boost its price - BusinessWorld Online

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AC ENERGY Corp. (ACEN) was one of the most actively traded stock last week following a good market sentiment for the energy company.

Data from the Philippine Stock Exchange showed a total of 71.77 million shares worth P518.91 million were traded from Nov. 28 to Dec. 2, making it the 20Shares in the Ayala-led energy company increased by 4.4% week on week, finishing at P7.36 apiece on Friday from its closing of P7.05 on Nov. 25. The stock dipped by 33.1% since the beginning of the year.

US Federal Reserve Vice-Chair Lael Brainard said in November that the central bank was considering slowing down its interest rate hikes.In a Viber message, Mercantile Securities Corp. Analyst Jeff Radley C. See attributed the company’s growth to its developments, including acquisitions made, and hence dominance in the industry.

Mr. Limlingan said that market investors should track the energy company’s developments locally and internationally. In a disclosure on Thursday, the stock company announced its acquisition of Sinocalan Solar Power Corp. through a share purchase agreement with Sungrow Power Renewables Corp. and Havilah AAA Holdings Corp., the developer of a 60-megawatt-peak solar power plant based in Pangasinan.

 

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