{"id":17320,"date":"2010-12-28T06:55:51","date_gmt":"2010-12-28T11:55:51","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=17320"},"modified":"2010-12-28T06:55:51","modified_gmt":"2010-12-28T11:55:51","slug":"aboitiz-transport-system-ats-to-sail-high","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/12\/28\/aboitiz-transport-system-ats-to-sail-high\/","title":{"rendered":"Aboitiz Transport System (ATS) to Sail High?"},"content":{"rendered":"<p><a href=\"http:\/\/static.seekingalpha.com\/uploads\/2010\/12\/28\/650046-12935370638125-lytman02_origin.png\"><img decoding=\"async\" src=\"http:\/\/static.seekingalpha.com\/uploads\/2010\/12\/28\/650046-12935370638125-lytman02.png\" alt=\"\" hspace=\"6\" vspace=\"6\" \/><\/a><\/p>\n<p>On December 6, Aboitiz Equity Ventures or AEV in the Philippine Stock  Exchange disclosed that it would push through with the sale of its  transport unit, Aboitiz Transport System (<a href=\"http:\/\/www.laidtrades.com\/2010\/12\/27\/aboitiz-transport-system-ats-to-sail-high\/\">ATS<\/a>) to Negros Navigation Co.  (Nenaco). Aboitiz Equity Ventures is selling 1,889,489,607 common  shares, representing 77.24% of ATS&rsquo; outstanding common shares. The  proceed of which will be used by AEV to finance new investments in  power, food, and banking. As previously mentioned, the purchase price  for 100% of ATS&rsquo;s outstanding common shares is $105 million,  approximately equivalent to $0.043 per share. This would then translate  to PHP 1.8920 per share at PHP 44.00 per 1 USD. So presently, the shares  of ATS is still trading at a 7.50% discount, assuming an exchange rate  of PHP 44.00 to a dollar,&nbsp; given last Thursday&rsquo;s close of PHP 1.7600 per  share.<\/p>\n<p>From a technical perspective, the shares of ATS have exploded from  PHP 1.200 last November 18 to a high of PHP 2.14 on November 22. Since  then, ATS, however, has consolidated in to what looks to be a pennant  formation. A breakout from this pattern could send it at least back to  its previous high at 2.14 or even to as high as 2.70 if the height of  the pole of the pennant is projected upwards. But before anyone of you  buys, it&rsquo;s better to wait for a breakout which is confirmed by an  increase in volume.<\/p>\n<p>More on <a href=\"http:\/\/www.laidtrades.com\/\">LaidTrades.com<\/a> &#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On December 6, Aboitiz Equity Ventures or AEV in the Philippine Stock Exchange disclosed that it would push through with the sale of its transport unit, Aboitiz Transport System (ATS) to Negros Navigation Co. (Nenaco). Aboitiz Equity Ventures is selling 1,889,489,607 common shares, representing 77.24% of ATS&rsquo; outstanding common shares. The proceed of which will &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/12\/28\/aboitiz-transport-system-ats-to-sail-high\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Aboitiz Transport System (ATS) to Sail High?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-17320","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=17320"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/17320\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=17320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=17320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=17320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}