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ICTSI stocks surge on contract for Puerto Cortés

Friday, March 22, 2013

ICTSI, the largest Philippine port operator, jumped to a record in Manila trading after the company signed a $624 million contract for a port in Honduras.

The company rose 3.7 percent to 90.50 pesos as of 2:19 p.m. in Manila, heading for the highest close since it started trading in March 1992.

ICTSI said it signed a 30-year contract to upgrade and manage the container and general cargo terminal for Puerto Cortés in Honduras.

Source: Bloomberg