MANILA, Philippines – The peso exchange rate stands at P43.305 to the US dollar, the closing rate last Friday at the Philippine Dealing & Exchange Corp. (PDEx). The weighted average rate stands at P43.332.

A.N.I. RAISING P1.22 B FROM BONDS, RIGHTS OFFER

Listed farming company Agrinurture Inc. is planning to raise P1.22 billion through the issuance of convertible bonds and a stock rights offering to fund its expansion and diversification efforts.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said it is issuing convertible bonds or notes worth P1 billion with a maturity of five to ten years’ subject to the ratification by ANI shareholders.

ANI said it will also be seeking the approval of its shareholders for a planned stock rights offering where stockholders may subscribe to one new share for every share held. (JAL)

I.P.V.G. UNLOADS 69% STAKE IN SUBSIDIARY

IPVG Corp., a holding company primarily invested in information technology companies, said Monday it agreed to sell 69% of its wholly-owned subsidiary Prolexic Technologies Inc. for $13.9 million to Kennet Partners, a London-based technology growth equity investor.

Prolexic, a US-based provider of network security services against distributed denial of service, or DDOS, attacks, was acquired by IPVG in January 2008 for $10.9 million. IPVG said the sale values Prolexic at around $20 million.

ANGLO-PHIL PROFIT JUMPS 91% TO P561 MILLION

Anglo Philippine Holdings Corp. registered a 91% jump in net income to P561 million in 2010 from P294 million in 2009, a record high in the company’s history. EPS was booked at 48 centavos last year against 25 centavos in the previous year. The surge in net revenue arose from interest earned on advances to affiliated companies and mark to market appreciation in the value of its investments.

The board of directors of the company declared a cash dividend of 5% or 5 centavos per share to all shareholders of record as of April 8, payable on April 29, 2010.

FITCH TO REVIEW R.P. PERFORMANCE

A review team from one of the three international credit rating agencies will meet this week with some government officials to review the country's economic situation and discuss the mid-term plans of the Aquino administration.

Representatives from Fitch Ratings will be in Manila on March 30 to meet with officials of the Department of Finance (DoF), Bangko Sentral ng Pilipinas (BSP), Department of Budget and Management (DBM), Department of Trade and Industry (DTI) and National Economic Development Authority (NEDA). (CSL)