Ricky Razon’s Bloomberry heavy favorite to replace soon-to-be delisted Metro Pacific in the PSE Index

BILYONARYO.COM

Ricky Razon’s Bloomberry heavy favorite to replace soon-to-be delisted Metro Pacific in the PSE Index

BILYONARYO.COM

The hotel and casino unit of ultra bilyonaryo Ricky Razon is the clear frontrunner to fill the void left by Metro Pacific Investments (MPI).

Bloomberry Resorts (BLOOM) rocketed 11 to P10.88 on total trade of P400 million. This is BLOOM’s highest closing since January 2020.

BLOOM was the market’s third biggest gainer as most market players were betting it would replace MPI in the Philippine Stock Exchange Inc. Investor demand was also driven by expectations that BLOOM will report strong earnings in the first quarter this year.

MPI has approved a P49 billion tender offer to go private this year.

Aside from BLOOM, other contenders for MPI’s slot are Nickel Asia and AREIT.

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