MANILA, Philippines - Century Properties Group Inc. said it is complying with the local stock exchange’s requirements on the listing of all outstanding shares.
“The company has extended its efforts and has provided the Philippine Stock Exchange (PSE) on the updates of our listing,†Century Properties said.
“Moreover, Century Properties has issued and submitted a letter of undertaking to list its shares, disclosing to the PSE the plans and timelines of the company,†it added.
To date, just 3.55 billion or 36.67 percent of the real estate firm’s 9.68 billion outstanding shares are listed in the local bourse.
Under PSE rules, all types of shares of a public firm should be listed in the stock exchange. However, the requirements are not clear on the timeline for the listing of the shares.
“The remaining shares are unlisted as Century Properties has been advised by counsel that while the listing of all shares is required, it is within the company’s discretion as to when to list its unlisted shares,†the company said.