Bourse lifts DHI trading suspension
THE PHILIPPINE Stock Exchange (PSE) on Tuesday lifted the suspension on trading of Dominion Holdings, Inc. (DHI) shares after the company complied with regulatory requirements.
“The trading of DHI shares in the PSE was originally placed on hold since Jan. 27, 2020 due to a voluntary trading suspension and a Securities and Exchange Commission (SEC) requirement to amend the firm’s registration statement to reflect the change in its primary purpose from leasing and financing business to a holding company,” DHI said in a disclosure to the stock exchange on Wednesday.
“Subsequently, the SEC lifted its Order of Suspension on July 1, 2024, while the PSE resolved to lift the trading suspension of DHI effective Aug. 20, 2024 after DHI filed its Comprehensive Corporate Disclosure,” it added.
DHI submitted its amended registration statement on April 17 and the final updated amended registration statement on June 4. It also paid the filing and other corresponding fees for the petition to lift the order, which DHI filed on June 28.
DHI, formerly BDO Leasing and Finance, Inc., holds or owns real estate properties, securities or shares of stocks, and other assets of other companies.
It also engages in investment and business activities involving these assets.
The change in DHI’s corporate name was approved by the SEC on July 18, 2022 due to a shift in primary and secondary purposes to a holding company from a leasing and financing company.
DHI saw its net income decline by 12.45% year on year to P58.62 million in the second quarter due to lower interest earnings, it reported earlier this month.
This brought its net income for the first half to P134.48 million, up by 7.34% from a year ago as it benefited from the high interest rate environment as well as the reversal of provisions for probable losses on bond investments, which matured in the second quarter of 2024.
DHI shares went down by seven centavos or 3.63% to end at P1.86 apiece on Wednesday. — A.M.C. Sy