Your Premier Source for Comprehensive Philippines News and Insights! We bring you the latest news, stories, and updates on a wide range of topics, including politics, culture, economy, and more. Stay tuned to know everything you wish about your favorite stars 24/7.


  • Owner: SNOWLAND s.r.o.
  • Registration certificate 06691200
  • 16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
  • Czech Republic

CREC changed its IPO date for better feng shui

According to a report by Miguel R. Camus of InsiderPH [link], Citicore Renewable Energy Corp. [CREC 3.88 pre-IPO] CEO Oliver Tan said that CREC moved its IPO back by a week to June 7 after consulting with a feng shui expert. Mr. Tan said that June 7 is a more “auspicious” date.

MB bottom-line: I’m not a superstitious person but I understand why these considerations can creep in where the difference between success and failure can so often be attributed to random chance. We’ve seen companies in the past set their maximum IPO price at a number that is thought to carry better “luck”, but it’s hard to look at the history of IPO results and see much good luck in all that red. Good reason? Bad reason? It doesn’t make that much difference to me as an investor, and it likely won’t make any difference to anyone a year or two from now when CREC is listed and the IPO is just a distant memory. Still, thought it was interesting to pass this along since I was lightly speculating on the reason for the date change yesterday.


Merkado Barkada is a free daily newsletter on the PSE, investing and business in the Philippines. You can subscribe to the newsletter or follow on Twitter to receive the full daily updates.

Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.