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PSE suspends trading on ABS-CBN shares, PDR

TDT

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TRADING suspension will be lifted after network's full disclosure to the public on where it stands after failing to get a new broadcasting franchise.

Trading on ABS-CBN Corporation stocks had been suspended by the Philippine Stocks Exchange (PSE) on Monday in view of the denial of its franchise bid by Congress.

The PSE stopped trading of both the common shares and the Philippine Depositary Receipts of the television and radio network.

Last Friday, ABS-CBN shares closed at P14.78 last Friday, down from P14.96 per share on Thursday.

“The trading suspension shall be lifted one (1) trading day after dissemination of the full disclosure to the investing public,” the PSE said in an advisory.

On Friday, a House of Representatives panel voted 70 to 11 denying ABS-CBN’s franchise application. On Monday, the Palace urged the public to move on from the contentious issue.

 

 

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