DITO’s stock price went up by +9.47% today driven by the possibility that its Singaporean investor will increase its investment in the company.
In the last four trading days, DITO’s stock price has gone up by almost +25%. The price surge is also backed by solid volume.
DITO’s board of directors approved the potential investment increase of Summit Telco up to nine billion common shares. (https://www.bworldonline.com/corporate/2024/11/05/632749/dito-cme-board-oks-summit-telcos-potential-investment/).
The additional investment will be a very big help for DITO for its expansion plans. Next year, DITO is eyeing to aggressively expand its internet subscribers (https://mb.com.ph/2024/10/21/dito-aims-for-subscriber-surge-in-2025).
As of the moment, the company is doing more initiatives to raise more funds. It is targeting to do a follow on offering before the year ends (https://business.inquirer.net/484238/dito-cme-follow-on-offer-to-proceed-before-end-2024).