PXP disclosed the sale of PERC shares to RCBC:
PERC shares are sold to RCBC clients on a slight discount to market. If “clients” view PERC as short term, then we can expect profit taking should the power plant go to commercial operations in August.
A strategic investor may buy 20% of ROX:
The funds to be raised will be used for plant modernization.
ROX’s strategy is good for shareholders:
Investing toward efficiency rather than on expansion would increase ROX’s profit margins allowing their products to be price competitive against imports.