Delaying the pain: PSE suspends trading of Dennis Uy’s DITO as it seeks more info on P8B SRO bust

The Philippine Inventory Trade (PSE) has ordered a shopping for and promoting halt on DITO CME Holdings on January 31.

The PSE has demanded “full and complete” disclosure on DITO chairman Dennis Uy’s option to cancel its P8 billion stock rights offering on January 29, or 4 days after the deadline on its one month present interval.

The PSE apparently felt DITO’s press launch citing “lower than very best market situations” for the SRO cancellation was inadequate.

“The Trade has required DITO to submit a full and complete disclosure on the foregoing matter inside the day. In view of the materiality of the foregoing info and pending submission of the excellent company disclosure, the Trade will implement a buying and selling halt on the shares of DITO beginning 9:00 a.m. right now, January 31, 2022,” said the PSE.

| RELATED STORIES:

Kapit lang mga DITOnatics! Dennis Uy nonetheless bullish on DITO Telecommunity regardless of P8B SRO flop

Could ‘perceived dangers’ daw! ChinaBank says it respects Dennis Uy’s choice to defer DITO’s SRO

What else is new? Debt-burdened Dennis Uy to borrow extra for DITO’s capital wants after P8B SRO bust

Anyare Hans Sy? ChinaBank had dedicated to ‘absolutely subscribe’ to DITO’s P8B SRO flop

PSE fame tarnished: Dennis Uy’s DITO may face sanctions for unilaterally canceling P8B SRO days after the deadline, amassing different folks’s cash

Dennis Uy below fireplace: PSE slaps high-quality on DITO CME for flouting disclosure guidelines

Nilangaw talaga! Money-strapped Dennis Uy cancels P8B rights provide on account of ‘weak demand, poor market situations’

The PSE reiterated that it has however to behave on DITO’s unilateral option to defer the SRO to July or August this 12 months.

It has moreover not dominated out taking “regulatory motion” to verify the entire compliance of DITO and its sole underwriter, China Financial institution Capital, “with the relevant guidelines and for the safety of the investing public.”