The Philippine Stock Exchange (PSE) said on Wednesday that only 12 listed companies remain non-compliant with its minimum public ownership (MPO) requirement compared with the 25 that were listed on December 7.

The PSE said that the following companies have yet to comply with the 10-percent minimum public ownership rule on Wednesday: Alphaland Corp. with has an MPO of 8.03 percent; Manchester International Holdings Unlimited Corp., 6.79 percent; Southeast Asia Cement Holdings Inc., 2.41 percent; Philippine Airlines Holdings Inc., 2.30 percent; Allied Banking Corp., 1.51 percent; Maybank ATR Kim Eng Financial Corp., 0.89 percent; San Miguel Brewery Inc., 0.61 percent; PNOC Exploration Corp. 0.21 percent; San Miguel Properties Inc., 0.06 percent; Philcomsat Holdings Corp., 9.60 percent; Cosmos Bottling Corp., 1.79 percent and Nextstage Inc., 1.20 percent.

The public float levels stated in the list are based on the latest Public Owneship Reports and other related disclosures of the concerned listed companies.

Further, as previously announced, listed companies that are non-compliant with the MPO requirement have been given a grace period until December 31 to comply.

A PSE memorandum on the matter said that immediately after December 31, 2012, the exchange shall impose a trading suspension on the shares of non-compliant listed companies beginning January 2, 2013, for a period of not more than six months, or until June 30, 2013. If after June 30, 2013, a listed company remains non-compliant, the listed company’s shares shall be delisted effective July 1, 2013.

The PSE has been regularly posting on its website the list of the non-MPO compliant companies.