AbaCore Capital Holdings Inc. plans to list its wholly-owned unit Philippine Regional Investment Development Corp. (PRIDE), through a process called listing-by-way-of-introduction, or without public offering.
AbaCore said in a disclosure to the stock exchange Tuesday its board of directors approved the declaration of property and cash dividend to shareholders in accordance with its dividend policy.
Shareholders of AbaCore owning 1 share will be entitled to receive 0.0009 share in PRIDE and P0.01 cash dividend. Each PRIDE share has a par value of P100, equivalent to a P0.09 dividend.
The dividend will be paid to shareholders of record as of June 28. The payment of the dividend is subject to the approval of the Securities and Exchange Commission.
AbaCore said the move will enable PRIDE to be listed on the local bourse through listing-by-way-of-introduction.