Last year we reported that the Zest-O group’s savings bank Philippine Business Bank (PBB) has filed for application with the Philippine Stock Exchange (PSE) to conduct an initial public offering. Recent reports show that the PSE has approved the bank’s application and the IPO will push through this February 2013.
Tender Offer set for ETON, TOL, FMIC, CMT prior to delisting
Less than two months before the deadline set by the Philippine Stock Exchange (PSE) for publicly traded companies to comply with the minimum public ownership rule, several firms are opting for a delisting instead and are currently in the process of making a tender offer.
A Tender Offer is an invitation to the public, specifically minority shareholders, to surrender or tender their shares to the acquiring entity at a specific price during a specified time.