PLDT faces NYSE warning over delayed annual reports

PLDT Inc. has received a notice from the New York Stock Exchange (NYSE) over its delayed annual reports for 2024 and 2025, following the withdrawal of audit opinions on the company’s financial statements for both years.

In a disclosure dated 11 November, PLDT said the notice, issued on 4 November, cited non-compliance with Section 802.01E of the NYSE Listed Company Manual, which covers filing delinquencies involving required annual reports on Form 20-F.

The filing delays stemmed from the withdrawal by SyCip Gorres Velayo & Co. of its audit opinions on PLDT’s 2024 and 2025 financial statements prepared under International Financial Reporting Standards.

Under NYSE rules, PLDT has an initial six-month period from 13 August 2026 to submit the overdue reports. The exchange may grant an additional six months, at its discretion, depending on the company's circumstances.

Failure to meet the applicable deadline could trigger suspension and delisting procedures. The NYSE may also begin delisting proceedings earlier if circumstances warrant.

PLDT said it intends to file the delayed reports as soon as practicable.

The company clarified that the notice does not affect its business operations or its listing on the Philippine Stock Exchange. Its American Depositary Shares will also continue trading on the NYSE, with no immediate impact on their listing.