Bona could attribute to me my mistake in not elaborating my subtraction of Filipino-owned Filinvest common shares from Invesco-held Filinvest common shares. Filinvest reactsNelson Bona, a senior vice president and chief financial officer of Filinvest Land Inc., wrote to explain the computation of public ownership of Filinvest common shares. The foreign ownership component should not be deducted from the public ownership calculation since this is still considered public ownership. Hence, even with your recomputation of public ownership that includes 8 billion of preferred shares owned by Filinvest Development Corp. (FDC), the percentage of public ownership in FLI is still over 25 percent, substantially above the 10 percent minimum public ownership requirement of PSE. Foreigners own around 6.774 billion common shares through the PCD Nominee Corp. or 28 percent of common shares with Invesco as the single largest foreign stockholder owning 1.811 billion common shares or approximately 7.5 percent of total outstanding common shares.

Source: Manila Times July 28, 2016 14:37 UTC