trending Market Intelligence /marketintelligence/en/news-insights/trending/shd2667ksikygfqaj8wdsg2 content esgSubNav
In This List

Philippine Stock Exchange to issue 11.5 million shares in stock rights offer

Blog

Managed Services Insights: The client lifecycle management solution

Blog

Technology & Automation Insights: Elevating KYC and onboarding efficiency

Blog

Banking Essentials Newsletter: May 15th Edition

Blog

Data Insights: Enhancing regulatory compliance and client lifecycle management.


Philippine Stock Exchange to issue 11.5 million shares in stock rights offer

Philippine Stock Exchange Inc. is offering 11.5 million shares to shareholders through a stock rights offer as part of efforts to reduce broker ownership in the exchange.

The stock exchange operator will offer the shares at 252 pesos per share. The offer period will be from March 12 to 16.

The stock rights offer will be fully subscribed and will result in the dilution of broker ownership in the exchange to below 20%. The objective of the offer was to comply with a securities regulation that no single industry can own more than 20% of the voting rights of a stock exchange.

As of Feb. 26, US$1 was equivalent to 51.91 Philippine pesos.