The SEC said in a statement it ordered the PSE and CMIC to submit initial reports on their investigation into the trading activities that resulted in the sudden and sharp decline in the share prices of PLDT before the official disclosure of the-- READ:
The SEC said in a statement it ordered the PSE and CMIC to submit initial reports on their investigation into the trading activities that resulted in the sudden and sharp decline in the share prices of PLDT before the official disclosure of the “budget overruns.”
Meanwhile, the SEC said it also ordered PLDT to clarify its disclosures in relation to statements on the nature of the P48-billion expenditure overrun.
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SEC probes PLDT budget overruns, shares selloff - BusinessMirrorTHE Securities and Exchange Commission on Monday said it is “closely monitoring” issues that have arisen from the recent disclosures of PLDT Inc. regarding what the company described as “budget overruns” totaling P48 billion over the last four years. “In this light, the SEC has immediately commenced an inquiry into the matter,” the agency said. The
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Bourse to probe sell-off in PLDT shares before firm’s disclosureThe PSE will investigate the trading activity on shares of PLDT Inc.after regulators noticed heavy selling minutes before the market closed last Friday and about an hour before a P48-billion financial anomaly within the telco firm was disclosed.
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