Big business in PH faces trading suspension

The units of the country’s largest business group, San Miguel Corp., face a possible trading suspension if they miss to meet the yearend deadline for the Philippine Stock Exchange’s rule on 10% minimum public ownership. This, after the Securities and Exchange Commission denied all requests for extension of the grace period to comply with the PSE’s rule, which, according to officials, is “one of the governance initiatives that we believe will help democratize the ownership of listed companies and increase trading activity.” Several companies already delisted, including those under businessman Manuel Pangilinan.

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