PNB Holdings Corp. (PHC), controlled by Tan-led conglomerate LT Group, is continuing preparations for its planned listing by way of introduction on the Philippine Stock Exchange, a process that will allow the property company to begin trading without raising fresh capital.
“PHC continues to move forward with its listing plan and make its shares available to the investing public,” banking unit Philippine National Bank said in a statement on Monday.
It added that PHC views the listing “as an important step toward broadening its investor base, enhancing market access, and creating long-term value for its shareholders.”
PNB said the company is completing the documentation and other preparatory requirements needed for the listing while coordinating with the Philippine Stock Exchange and other regulators.
“The final timing of the listing will be guided by PHC’s assessment of multiple relevant factors, with the objective of achieving an optimal outcome for its shareholders,” it said.
The Securities and Exchange Commission earlier approved PHC’s registration covering up to 46.93 billion common shares, paving the way for a listing by way of introduction that values the company at about P56 billion.
—Edited by Miguel R. Camus
