The Philippine Stock Exchange reported that as of December 7, 25 companies have yet to comply with the minimum public ownership of 10%. The exchange is giving them until the end of the year to raise their public float or face an immediate trading suspension for 6 months. If the companies continue to remain non-compliant, the listed company would then be delisted by July 1, 2013. Out of the 25, FMIC, TOL, and ETON have already expressed that they will delist from the exchange. On the other hand, Globalport 900 (PORT) has just reported that it will soon be compliant as its majority stockholder sold its shares. PORT added that they are just waiting for the proper documentation to report who bought the shares.
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