MANILA, Philippines — The Philippine Stock Exchange indefinitely suspended trading on Beloy family-led Abra Mining and Industrial Corp. starting Friday for violating the rules on the listing and trading of fully-paid shares.
Citing a report from the Philippine Depository & Trust Corp. (PDTC), the PSE noted that the number of Abra Mining’s fully paid issued and outstanding shares exceeded the number of its listed shares. The PSE requires that all fully paid issued and outstanding shares should be applied for listing.
The bourse also noted that the number of Abra Mining shares lodged with PDTC exceeded the number of its listed shares, in violation of a PSE rule that only securi…
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