AGI's Tourism Project

I bought AGI at 12.24 (did I say I expect it to drop to 12-peso level?). The low was 12.06 which I think a very good entry price for short trading.

Now, I am concern on AGI's tourism project. I don't know yet how this would affect the current price. It plans to sell 7 billion common shares from its treasury. I don't know if spreading the sell would minimize the impact on the share price. This 7 billion shares would account for 5.7 percent of the existing common shares in the market. I will be waiting how foreign will react to this development. But for the past 2 days DBP-DAIWA is buying.

As of 07 Dec 2010

Foreign Buying - 2,900,576,755.70

Foreign Selling - 3,243,339,333.90