The Philippine Stock Exchange Inc. (PSE) is reallocating P110 million from a 2018 stock rights offering to acquire a controlling stake in the Philippine Dealing System Holdings Corp. (PDSHC). This move follows a series of share purchases by the PSE from other PDSHC stakeholders, aiming to consolidate the country's equities and fixed-income exchanges. The PSE's equity stake in PDSHC currently stands at 55.53 percent.
THE Philippine Stock Exchange Inc. is reallocating P110 million out of the proceeds from a 2018 stock rights offering to fund the acquisition of a controlling stake in the Philippine Dealing System Holdings Corp. .'The Board of Directors approved the reallocation of the amount of P110 million from the proceeds of the stock rights offering last 22 March 2018 initially allocated for product development ...,' the Exchange said in a disclosure on Thursday.
Earlier this month, the PSE said that it entered into a share purchase agreement with AIA Philippines Life and General Insurance Co. Inc. to purchase AIA's 250,000 common shares equivalent to a 4.0-percent stake in PDSHC.It was the latest deal reached by the bourse, which has been buying up shares of other PDSHC stakeholders in a bid to consolidate the country's equities and fixed-income exchanges.Earlier this week, the PSE said that its equity stake in PDSHC now stood at 55.
Philippine Stock Exchange PDSHC Acquisition Share Purchase Consolidation
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