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International

PhilWeb plans to list in Singapore

Philippine internet firm PhilWeb.Com said on yesterday its board had approved plans to list the company's shares in Singapore.
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Written by ZDNet Staff on

Philippine internet firm PhilWeb.Com said on yesterday its board had approved plans to list the company's shares in Singapore.

23 May 2000 - "The board instructed management to expedite the registration process so that the Singapore listing can be effected as soon as market conditions become favourable," it said in a statement to the Philippine Stock Exchange.

Philweb shares were down 16.67 percent at 12.50 centavos by 0337 GMT on Monday in line with the drop of Philippine stocks amid the rising trend in local interest rates and news of Sunday's bombing in a Manila shopping mall.

Philweb will be the second Philippine technology firm to be listed in the Singapore stock market.

Electronics manufacturer Ionics EMS Inc made its debut on the Singapore stock market on February 25.

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