Philippine National Bank's (PNB) property arm, PNB Holdings Corp. (PHC), continues to prepare for its proposed listing on the Philippine Stock Exchange, with the timing of the transaction under review.
In a recent disclosure, PNB stated that PHC is undertaking the necessary documentation and preparatory requirements for the proposed listing, including coordination with the exchange and other regulators.
PNB views the listing as an essential step towards expanding its investor base, enhancing market access, and creating long-term value for its shareholders.
The final timing of the listing will depend on PHC's assessment of various factors to achieve an optimal outcome for its shareholders.
PNB's confidence in the strategic merits of PHC's proposed listing remains strong, and the bank will provide updates as necessary.
PNB's net income rose 5% in the first quarter, reaching P6.37 billion, as higher core and other income offset trading and foreign exchange losses.
The bank's shares rose 0.86% or 50 centavos to close at P58.40 each on the recent trading day.
