The Philippine Stock Exchange is seeking ways to boost its capital base significantly to cover a stock dividend declaration and, perhaps, prepare for its plan to engage in merger and acquisition activities in the future.
Local banking giant Metropolitan Bank and Trust Co. has made plans to double its authorized capital stock to P100 billion, bracing for stiffer capital adequacy requirements under the Basel 3 framework.
MANILA, Philippines—The Philippine Stock Exchange plans to build up the authorized capital base of wholly owned clearinghouse subsidiary Securities Clearing Corp. of the Philippines (SCCP) to P500 million as the latter is set to take on additional responsibility as an equities depository. The boards of both PSE and SCCP recently approved the increase in [...]
