THE PHILIPPINE Stock Exchange, Inc. (PSE) has jacked up its stake in the operator of the country’s fixed income bourse with the acquisition of the shares owned by FINEX Research and Development Foundation, Inc.
In a disclosure on Wednesday, the PSE announced it inked a share purchase agreement with FINEX involving 192,776 common shares in Philippine Dealing System Holdings Corp. (PDSHC) for a total of P61.68 million.
The shares are equivalent to 3.0844% of the total issued and outstanding stock of PDSHC, effectively increasing the PSE’s ownership in the PDS group to around 60%.
The PSE has signed similar deals with the Bankers Association of the Philippines, Whistler Technologies Systems, Inc., Investment House Association of the Philippines and The Philippine American Life and General Insurance Co.
The PSE has been increasing its ownership in the PDSHC as part of efforts to merge the trading platforms for the country’s equities and fixed-income exchange. — Krista Angela M. Montealegre
