Four (4) publicly-listed companies are in danger of being delisted from the Philippine Stock Exchange (PSE) if they fail to comply with the public float requirement before the end of this month.
The four companies are PAL Holdings (PAL), Nextstage Inc. (NXT), Philcomsat Holdings Corp. (PHC), and PNOC-Exploration Corp. (PEC).
Twelve (12) publicly-listed companies have only two remaining trading days to comply with the local stock exchange’s rule on minimum public ownership (MPO); otherwise, their stock will face trading suspension effective next week.
Despite a formal request from some companies to extend the deadline, the Philippine Stock Exchange (PSE) stood ground and reiterated its deadline of December 31, 2012 for publicly-traded firms to meet the required 10% public float level.
To those airline passengers who have missed meetings and appointments because of hours of delays, to those who have lost their luggage without either compensation or even a sincere apology from airline companies, and to those who were lured by “cheap” fares only to discover excessive hidden fees and charges, here’s an early Christmas gift for you.
It’s confirmed: Ramon Ang of San Miguel Corporation (SMC) is interested in acquiring a substantial interest in the country’s carrier Philippine Airlines. Ang himself confirmed this in a report by ABS-CBN News.
San Miguel Corp. is said to be in the middle of due diligence at present where they look into the financial statements and operations of PAL before making a final bid amount.
Manny V. Pangilinan (MVP) is on a buying spree.
Through his holding firm Metro Pacific Investments Corp. (MPI), MVP acquired the following:
Now it appears that MVP wants to add in this portfolio another company that is significant to most Filipinos. Rumor has it that he is already in talks to buy the country’s flag carrier, Philippine Airlines or PAL.
