PSE increases stake in PDS after closing deals with SSS, Insular Investment – BusinessWorld Online
THE Philippine Stock Exchange, Inc. (PSE) has raised its stake in the Philippine Dealing System Holdings Corp. (PDS) to 79.94% following the completion of deals with the Social Security System (SSS) and Insular Investment Corp.
The PSE said its acquisition of SSS’ 1.54% stake in PDS, equivalent to 96,388 shares, has met all closing conditions, while Insular Investment also finalized the sale of its 0.0645% share, or 4,030 shares.
“The transaction is subject to customary post-closing conditions,” the PSE said.
PDS operates the Philippine Dealing and Exchange Corp., Philippine Depository and Trust Corp., and Philippine Securities Settlement Corp.
In December 2024, the PSE announced plans to acquire a 61.92% stake in PDS for P2.32 billion. The market operator is purchasing 3.87 million PDS shares at P600 each.
The PSE posted a 57.5% increase in its net income to P1.21 billion in 2024, up from P766.31 million in 2023, following its acquisition of PDS.
On Thursday, PSE shares rose by 0.11% or 20 centavos to P182.20 per share. — Revin Mikhael D. Ochave