Bourse increases PDS stake to 57%

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THE Philippine Stock Exchange (PSE) will raise its majority ownership of the Philippine Dealing System Holdings Corporation (PDHSC) to over 57 percent after signing a share purchase agreement with Philam Life.

“The Company and Philam signed today a Share Purchase Agreement whereby the Company agreed to purchase and Philam agreed to sell 250,000 common shares of stock in PDSHC, equivalent to 4.00% of the total issued and outstanding stock of PDSHC,” the stock exchange said in an announcement on Tuesday.
The latest acquisition is “in addition to its existing 20.98% interest and previous acquisitions, for a total of 57.0331% majority ownership,” PSE said.

It said the purchase is subject to certain closing conditions including the approval of the Securities and Exchange Commission and the Philippine Competition Commission, and compliance with the provisions in the articles of incorporation of PDSHC, among others.

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