Maybank ATR meets bourse’s public float rule

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.

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

Posted: December 27th, 2012 in Headlines | Read More »

19 firms still below PSE’s minimum public float 2 weeks before deadline

With two weeks to go before the ultimate deadline, 19 listed companies are still below the 10-percent minimum public ownership required for continued listing on the Philippine Stock Exchange.

Posted: December 19th, 2012 in Latest Business Stories | Read More »

Maybank ATRKE profit up 6% to P324M in ’11

Financial services group Maybank ATR Kim Eng Financial Corp. grew its 2011 consolidated net profit by 6 percent to P323.9 million on higher earnings from investment banking, capital market and insurance businesses.

Posted: April 16th, 2012 in Headlines | Read More »