PSE closes another PDS share purchase deal

February 4, 2025 | 12:00am

MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE) has closed another share purchase deal with one of the shareholders of the Philippine Dealing System Holdings Corp. (PDS).

The PSE announced in a stock exchange filing yesterday the closing of the transactions under the share purchase agreement (SPA) with AIA Philippines Life and General Insurance Co. Inc.

The stock exchange operator last month entered into an SPA with AIA Philippines for the sale of the latter’s 250,000 common shares in PDS at P600 apiece.

“As of Jan. 31, 2025, AIA has fulfilled the closing conditions for the company’s acquisition of additional 250,000 common shares, representing four percent of the issued and outstanding shares of PDS pursuant to the share purchase agreements executed on Jan. 17, 2025,” the PSE said.

The PSE has also earlier closed the transactions under the SPAs with Singapore Exchange Ltd, Whistler Technologies Inc., San Miguel Corp., Golden Astra Capital Inc., Financial Executives Institute of the Philippines Research and Development Foundation and Investment House Association of the Philippines.

“With the company’s existing 20.98 percent equity interest in PDS and the closing of the transactions with SGX, WTSI, SMC, Golden Astra, FINEX Foundation, IHAP and AIA, the company will beneficially own 59.53 percent of PDS. The transaction is subject to customary post-closing conditions,” the PSE said.

Last week, the PSE also entered into an SPA with the Bankers Association of the Philippines, for itself and on behalf of BAP Data Exchange Inc. and certain member-banks, to acquire 1.16 million common shares equivalent to 18.62 percent interest in PDS.

With all the SPAs signed with various shareholders and the term sheet inked with Mizuho Bank Ltd., the PSE is set to purchase a total of 3.58 million common shares of PDS for a total purchase price of P2.15 billion.

The shares to be acquired by the PSE equivalent to 57.25 percent will be added to the company’s existing 20.98-percent stake in PDS, bringing its ownership to 78.23 percent.

The PSE intends to align the Philippine capital market with other markets globally which have a single exchange structure for fixed income and equities through the transactions.