Omidyar donates Rappler ‘investment’ to 14 Filipino managers

OMIDYAR Network on Wednesday donated its Philippine Depositary Receipts (PDRs) to the 14 Filipino managers of embattled news site Rappler, Inc. so that it may continue its operations.

In an official statement posted on Rappler, Omidyar said it was donating its PDRs to the 14 managers who were all Filipino citizens “to address the unwarranted ruling made by the Philippine Securities and Exchange Commission (SEC).”