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Byline: Josephine B. Valle-Sison
Accord Capital Equities Corp. has recommended buying new issues of First Gen Corp. given their attractive price.
The power holding firm will issue 2.1 billion shares of common stock in a stock rights offering that will run from Jan. 8 to 14. It expects to raise P14.997 billion. At P7 per rights share, First Gen offers its stockholders a discount for additional shares, said Justino B. Calaycay, Jr.
First Gen shares tumbled to P9.80 apiece on Wednesday, but Mr. Calaycay merely attributed the …