The Philippine Stock Exchange Inc. (PSE) is using funds from a 2018 stock rights offering to acquire a controlling stake in the Philippine Dealing System Holdings Corp. (PDSHC). This move consolidates the country's equities and fixed-income exchanges.
The Philippine Stock Exchange Inc. (PSE) is reallocating P110 million from its 2018 stock rights offering (SRO) proceeds to acquire a controlling stake in the Philippine Dealing System Holdings Corp. ( PDSHC ). The Board of Directors approved the reallocation of the P110 million on March 22, 2018, which was initially designated for product development. The PSE disclosed this information on Thursday.
Last July, the PSE informed the Securities and Exchange Commission that the remaining balance of the SRO proceeds stood at P1.689 billion as of June 30, 2024, as no disbursements had been made in the second quarter. Earlier this month, the PSE announced that it had entered into a share purchase agreement with AIA Philippines Life and General Insurance Co. Inc. to acquire AIA's 250,000 common shares, representing a 4.0-percent stake in PDSHC. This deal marks the latest acquisition by the PSE in its ongoing effort to consolidate the country's equities and fixed-income exchanges. The PSE has been actively purchasing shares held by other PDSHC stakeholders. Earlier this week, the PSE revealed that its equity stake in PDSHC currently stands at 55.53 percent, encompassing its existing 20.98 percent ownership plus shares acquired from various stakeholders as of January 17, 2025, excluding AIA's recent stake. The PDS Group, under PDSHC, operates the Philippine Dealing and Exchange Corp., responsible for managing the fixed-income exchange, and the Philippine Depository and Trust Corp., which serves as the depository for both equities and fixed-income securities
PHILIPPINE STOCK EXCHANGE PDSHC ACQUISITION STOCK RIGHTS OFFERING EQUITIES MARKET
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