The Far gains marginally on BSE debut

The Far Property Company regisetered modest gains on its first trading day on Wednesday rising by two thebe to P2.59 per share with 5,000 shares changing hands.

The company, which is the second to join the local bourse this year, listed following a successful and oversubscribed initial public offering (IPO).

The company, which is majority owned by Choppies Group directors Ram Ottapathu and Farouk Ismail, issued 40 million new units while the selling shareholders sold 40 million of their own shares meaning that 80 million units were being sold.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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