Philippine Exchange to demutualize in August

But IPO not likely until markets improve.

The Philippine Stock Exchange PSE says it will issue shares to 186 exchange members on August 8 this year, completing the initial step of its demutualization process.

This will see the bourse complying with rules set down in the Securities and Regulation Code enacted in August last year that called for demutualization within one year. However, there is no timetable for the second step in the demutualization process, an initial share sale to the public and listing of the company. This wont occur until stock exchange members see some favourable market conditions that would give a reasonable valuation to their holdings.

The PSEs Demutualization Committee completed a valuation of the exchanges...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222