PSE shelves preferred shares issue 0 SHARES Share it! In an interview, PSE President Ramon S. Monzon said they have decided against issuing 3.5 million non-voting preferred shares because holders of these securities actually get to vote on certain corporate matters. Thus, they plan to talk to more brokers and convince them to sell their PSE shares. FMIC was one of the underwriters of the issue and had to buy the PSE shares that were not subscribed by shareholders. Aside from the FMIC shares, Monzon said they need to buyback only about 0.34 percent or 900,000 to 1 million PSE shares from brokers and they will already be compliant with the ownership cap.

Source: Manila Bulletin October 14, 2019 00:11 UTC