{"id":139771,"date":"2017-12-17T20:51:34","date_gmt":"2017-12-18T01:51:34","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=139771"},"modified":"2017-12-17T20:51:34","modified_gmt":"2017-12-18T01:51:34","slug":"pse-hopes-to-close-merger-deal-with-pds-before-year-end","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2017\/12\/17\/pse-hopes-to-close-merger-deal-with-pds-before-year-end\/","title":{"rendered":"PSE hopes to close merger deal with PDS before year-end"},"content":{"rendered":"<p><figure id=\"attachment_86485\" aria-describedby=\"caption-attachment-86485\" style=\"width: 640px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/psei.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-86485\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/psei.jpg\" alt=\"FILE: PSE president Ramon Monzon said the Philippine Competition Commission (PCC) has already cleared the unification deal, noting \u201cthat\u2019s one regulatory obstacle that we overcome.\u201d (Photo by Katrina.Tuliao (https:\/\/www.tradergroup.org) [CC BY 2.0)\" width=\"640\" height=\"480\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/psei.jpg 640w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2017\/01\/psei-300x225.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><\/a><figcaption id=\"caption-attachment-86485\" class=\"wp-caption-text\">FILE: PSE president Ramon Monzon said the Philippine Competition Commission (PCC) has already cleared the unification deal, noting \u201cthat\u2019s one regulatory obstacle that we overcome.\u201d (Photo by Katrina.Tuliao (https:\/\/www.tradergroup.org) [CC BY 2.0)<\/figcaption><\/figure><strong>MANILA<\/strong> \u2014 The Philippine Stock Exchange (PSE) hopes it will finally close the deal to merge with fixed-income trading platform operator, Philippine Dealing Systems Holdings Corp. (PDS), before the end of the year.<\/p>\n<p>PSE president Ramon Monzon said the Philippine Competition Commission (PCC) has already cleared the unification deal, noting \u201cthat\u2019s one regulatory obstacle that we overcome.\u201d<\/p>\n<p>\u201cI would like to think it will happen before the end of the year,\u201d he told reporters last week.<\/p>\n<p>Monzon is optimistic the PSE will be able to comply with the 20-percent limit on ownership of an exchange with its conduct of stock rights offer.<\/p>\n<p>\u201cWhen you are adding the share offer, the ownership of the brokers will automatically be diluted. \u00a0We believe we will actually achieve less than 20 percent of stockbroker ownership with the 11.5 million shares (stock rights offering),\u201d he said.<\/p>\n<p>The PSE earlier said the issuance was part of the company\u2019s compliance plan to align the shareholder ownership with the limits set by the Securities and Regulation Code.<\/p>\n<p>Monzon further said the PSE also filed a listing application of the shares and registration statement with the Securities and Exchange Commission (SEC). The PSE lists follow-on and initial public offerings.<\/p>\n<p>\u201cSo hopefully, it just involves a little more dialogue, a little more explanation and successfully in doing that before the end of the year, hopefully, we can get exemptive relief from SEC,\u201d he added.<\/p>\n<p>The PSE-PDS merger is seen to enhance the liquidity in the financial markets. <strong><em>(PNA)<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MANILA \u2014 The Philippine Stock Exchange (PSE) hopes it will finally close the deal to merge with fixed-income trading platform &hellip;<\/p>\n","protected":false},"author":33,"featured_media":86485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[38406,39293,20525,39294],"class_list":["post-139771","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-philippine-competition-commission-pcc","tag-philippine-dealing-systems-holdings-corp-pds","tag-philippine-stock-exchange-pse","tag-pse-president-ramon-monzon","mauthors-leslie-gatpolintan","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/139771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=139771"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/139771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/86485"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=139771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=139771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=139771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}