Saturday, June 23, 2018
Close  
  • share this

Maybank ATR meets bourse’s public float rule

/ 10:58 PM December 27, 2012

Financial services group Maybank ATR Kim Eng Financial Corp. (MATRKE) has increased its public ownership to 10.25 percent from 0.89 percent to comply with the 10-percent minimum public float requirement of the Philippine Stock Exchange.

MATRKE disclosed on Thursday that key shareholders had placed out 100 million shares at P4.38 per share to foreign firms.  The equity deal was priced at the same level at which the controlling shareholder, Maybank Kim Eng Holdings Ltd., paid the minority shareholders in a tender offer in November 2011.

Maybank Kim Eng sold 50 million of its common shares in the local company to Hong Kong firm Wah Hong Investment Ltd. Another 50 million of issued and outstanding common shares in MATRKE were sold to Lotus Asset Management (BVI) Ltd., a British Virgin Island registered firm.

ADVERTISEMENT

The PSE requires a public float of at least 10 percent for companies to remain listed to ensure sufficient liquidity in the stock market.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Maybank ATR Kim Eng Financial Corp., public float rule
For feedback, complaints, or inquiries, contact us.
newsinfo

Just another win for UP cum laude in wheelchair

June 24, 2018 07:06 AM

newsinfo

Duterte on God, Catholics and Adam’s apple

June 24, 2018 07:00 AM

newsinfo

Saudi women driving ban ends

June 24, 2018 06:37 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.