THE Philippine Stock Exchange (PSE) has extended the timeline for the use of the proceeds for its stock rights offer (SRO) to Dec. 31, 2023, the local bourse said on Thursday.
In a regulatory filing, the PSE said that it had so far disbursed 1,101.14 shares from its planned amount of 2,825.88.
It detailed that its net proceeds were meant to be used for acquisition of the Philippine Dealing System (PDS), product development and working capital requirements at 1,580 shares, 360 shares and 885.88 shares, respectively.
“This directive is being issued primarily for the purpose of ensuring the timely disclosure of information relating to PSE as a listed company and should not be construed as an approval by the (Securities and Exchange) Commission,” the PSE disclosed.
The PSE’s two wholly owned units include the Securities Clearing Corp. of the Philippines and the Capital Markets Integrity Corp.
The listed company holds a 20.98% interest in the Philippine Dealing System Holdings Corp. — the holding company of the Philippines’ fixed income exchange operator — and a 90% interest in Premier Software Enterprise, Inc.
PSE shares on Thursday inched down by 0.19% to close at P154.70 apiece. — Angelica Y. Yang
