PSE increases PDS stake to 92.06%

THE PHILIPPINE Stock Exchange, Inc. (PSE) has increased its stake in Philippine Dealing System Holdings Corp. (PDS) to 92.06% after acquiring additional shares from a selling shareholder.

- Revin Mikhael D. Ochave

A member bank of the Bankers Association of the Philippines (BAP) signed an accession agreement on May 30 to sell its 28,790 PDS shares, equivalent to a 0.46% stake, to the PSE, the stock market operator said in a regulatory filing on Monday.

With this agreement, the PSE’s ownership in PDS rose to 92.06%, including its existing 91.6% stake.

PDS owns fixed-income exchange operator Philippine Dealing and Exchange Corp. as well as the Philippine Depository and Trust Corp.