The Securities and Exchange Commission (SEC) lifted the suspension of trading on Sy-led listed firm Dominion Holdings Inc. (DHI) after more than four months.
DHI said in a disclosure to the stock exchange Wednesday it received an order from the SEC dated July 1, 2024 lifting the order of suspension issued on Feb. 13, 2020.
The SEC earlier issued the order of suspension against DHI, formerly BDO Leasing and Finance Inc., for its alleged failure to amend its registration statement to reflect the change in primary purpose from leasing and financing company to a holding company.
DHI submitted its final amended registration statement to the SEC in June.
“Having submitted the amended registration statement, paid the filing fees thereof and the corresponding fees for the petition, DHI is now compliant with the commission order dated Feb. 13, 2020,” the SEC said in the order.
“Wherefore, premises considered, the order of suspension dated Feb. 13, 2020 is hereby lifted and the status of Dominion Holdings Inc. shall be changed from ‘suspended’ to ‘registered’ in the commission’s securities registry,” the SEC said.
The shares of DHI were last traded on Jan. 24 when it closed at P3.16 per share.
DHI changed its corporate name to its present one in August 2020 in line with BDO’s objective to re-purpose DHI into a holding company.
DHI, as an investment holding company, has more flexibility in pursuing business opportunities that can enhance shareholder value.
The company’s primary purpose is to hold/own real estate properties, securities/shares of stocks and other assets of other companies and engage in investment and business activities involving these assets.
DHI registered a 30 percent year-on-year growth in net income in the first quarter to P75.9 million from P58.3 million a year ago.
Gross Income increased 28 percent due to the shift in its investment portfolio towards higher-yielding placements and debt securities.