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The Securities and Exchange Commission has given its go-signal to the listing of dollar-denominated securities at the Philippine Stock Exchange.
SEC chairperson Teresita Herbosa said the corporate regulator approved the proposed rules on the listing and disclosure, trading, clearing and settlement and fees of DDS during in an en banc meeting Thursday afternoon.
The PSE plans to launch the new securities product before the end of the year.
The new securities product will enable companies to list their dollar denominated shares in addition to their peso common shares.
Fruit grower and canner Del Monte Pacific Ltd. has been waiting for SEC’s approval of the DDS rules to finally push through with its $360-million preferred shares offering.
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