Pacifica, Inc. (PA) clarified the reports posted on Business World Online. According to the news site, the owner and operator of Kuya J Restaurant Chain is positive on taking his company public as soon as possible to accelerate its growth in the country.
Kuya J is looking at whether to go public by having an initial public offering (IPO) or through the way of a backdoor listing.
This is not the first time speculations about the backdoor listing surface. It was going on for years after Chairman of Kuya J, Mr. Lowell L. Yu took control of listed firm Pacifica, Inc.
The acquisition was made with Unido Capital, Yu’s firm, which purchased 36.52 percent of Pacifica Inc. Subsequent tender offer for minority shareholders was also conducted.
Previously, the Kuya J group said it was going public once it achieves a total of 100 stores. Currently, the food chain already operates 106 stores.
No Definitive Backdoor Listing Plans
As a response to the query of the exchange, Pacifica said that it has no definitive plans regarding the backdoor listing. There aren’t any agreements reached yet.
On August 8, 2018, Pacifica released its business plan with the objective of bringing back shareholder’s equity from negative to positive. First is the infusion of PHP 500,000 by Unido as “Deposit for Future Subscription.” The completion date was September 8, 2018.
Second, the company plans to increase its capital stock from the current PHP 200 million divided to 40 billion unclassified common shares. It is with a par value of PHP 0.005 to PHP 5 billion divided into 5 billion common shares with a par value of PHP 1.00.
The first tranch of PHP 500 million is already implemented. The succeeding increase is subject for review in 2019.
The company does not have any revenues for the first half of 2018. The company suffered a net loss of PHP 745,246, 33.36. This figure is better than the recorded PHP 1.11 million loss recorded in the same period in 2017.
Near Overbought Levels
The stock spiked today but was unable to sustain the highs. The 15 EMA, 20 SMA and 50 SMA acted as support and springboard for the stock.
The price was also able to get above the 200 SMA. Volume supported the rally. MACD is poised for a bullish crossover. RSI is also bullish and is approaching overbought levels.
Meanwhile, estimated support is at 0.04 while expected resistance is at 0.044 followed by 0.048.
Volume
As of September 17, 2018, at 03:30 PM, the volume of PA is 5,726.53% of the previous trading day. This stock’s latest volume is already above its 30-day volume average.
Remember the correlation between price and volume.
bullish price + volume above the 30-day volume average = bullish
bullish price + volume below the 30-day volume average = neutral
bearish price + volume above the 30-day volume average = bearish
bearish price + volume below the 30-day volume average = bearish
Risk Level
PA has a MODERATE-RISK level due to its risk percentage of 68.12%.
Foreign Fund Flow
PA registered a Net Foreign Buying worth P393,500.00 as of September 17, 2018. On a 30-day trading period, PA is on a Net Foreign Buying worth PHP410.000.
Top 10 Players’ Sentiment
Trading participants of PA with a 100% Buying and Selling Activity as of Sep-17-2018 at 03:30 PM:
6 out of 43 participants or 13.95% of all participants registered a 100% BUYING activity
15 out of 43 participants or 34.88% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 0.0428
Top 10 Players’ Selling Average: 0.0430
The psychological average price of the top 10 players as of Sep-17-2018 is from 0.0428 to 0.0430.
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