Robinsons Retail Holdings Inc., the largest Philippine initial public offering, retreated in its Manila debut amid concern the devastation from Super Typhoon Haiyan will weigh on Southeast Asia’s fastest-growing economy.
San Miguel Corp., the largest company in the Philippines by sales, rose the most in more than two years after saying it will declare 240.2 million shares of majority owner Top Frontier Investment Holdings Inc. as a property dividend.
Philippine billionaire Lucio Tan has been approached by a group of investors to sell his control of PAL Holdings Inc. and Philippine Airlines Inc. as he prepares to exit the aviation business after two decades.
Puregold Price Club Inc., the second- largest Philippine operator of grocery stores and hypermarkets, said will probably meet its profit goal this year after luring more shoppers. The stock rose the most in a month.