The Philippine Stock Exchange (PSE) is currently selling 100,000 shares held by two defunct brokerage firms, Asian Capital Equities Inc. and Marino Olondriz y Cia, worth about Php60-million.
Last Tuesday (June 3), the PSE held a public auction, but it is also thinking of using other alternative modes to dispose the shares. Among the options is to course at least three block sales in the open market or enter into a negotiated sale or directly allocate the shares to the brokerages' clients as a payment in kind.
Meanwhile, PSE share prices closed unchanged yesterday (June 4) at Php595 per share.
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