Philippines' stock market operator buys majority of bonds exchange
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The Philippine Stock Exchange (PSE) is set to acquire a majority stake in the Philippine Dealing System Holdings Corp (PDS) by purchasing an additional 61.92% of shares for 2.32 billion pesos ($40 million). This move aims to unify Manila's capital markets and enhance operational efficiencies. PSE President Ramon Monzon stated that the agreement will facilitate the introduction of new products for stakeholders. Currently, PSE holds 20.98% of PDS and will acquire shares from various entities, including the Bankers Association of the Philippines and Mizuho Bank.
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