PHILIPPINE National Bank (PNB) said PNB Holdings Corp. (PHC), an associate of the bank, has set Sept. 25 because the goal date for the listing of its shares on the Philippine Stock Exchange (PSE) by means of introduction.
In an announcement issued on Monday, PNB said the planned listing would allow PHC shares to be traded on the PSE.
“The planned listing marks a major milestone for PHC and its shareholders. Through the listing, PHC shares shall be traded on an organized and controlled exchange, providing transparent price discovery and enhanced liquidity for investors,” the bank said.
PNB said PHC views the listing as a part of its long-term technique to broaden market participation, strengthen its public market presence, and create greater opportunities for shareholders to comprehend value through a longtime exchange platform.
The bank said it stays supportive of PHC because it moves toward its planned listing and would offer further updates as appropriate.
The PSE’s amended Rules on Listing by Way of Introduction allow the listing of securities of an unlisted issuer when these are distributed as property dividends by a listed issuer to its shareholders.
Earlier this month, PNB said PHC was continuing preparations for the listing, although the timing of the transaction remained under review.
The corporate said PHC was completing documentary and other preparatory requirements, including coordinating with the PSE and other regulators.
In May, LT Group, Inc. President and Chief Operating Officer Lucio C. Tan III said the listing may very well be delayed because of market volatility, geopolitical risks, and the group’s review of its capital expenditure plans.
The planned listing comes because the PSE recently raised its 2026 capital-raising forecast to about P204 billion from its initial goal of P170 billion, citing applications received for initial public offerings, preferred share offerings, and personal placements.
PNB shares rose 1% to P60.60 apiece on Monday. — Alexandria Grace C. Magno