The Securities and Exchange Commission said Monday it will look into the decision of DITO CME Holdings Corp. to defer its P8-billion stock rights offering that affected a large number of retail investors.
“Our team is looking into this very carefully to see if there has been any violations of the Securities Regulation Code or the Investment Houses Act,” SEC commissioner Ephyro Luis Amatong said in a text message.
Amatong said the SEC was also coordinating with the Philippine Stock Exchange, which is separately looking into the case.
COL Financial Inc., one of the largest online brokerage firms in the country’s, urged the PSE to quickly resolve the issue to protect minority shareholders that participated in the offering.
“We trust that our regulars will handle this development with protection of those investors in mind, especially since there is a large minority shareholders that participated in the offering,” COL Financial president Dino Bate said in a press briefing.