The Philippine Stock Exchange (PSE) indefinitely suspended trading on Beloy family-led Abra Mining and Industrial Corp. beginning March 4 for allegedly violating rules on the listing and trading of fully paid shares.
Citing a report from the Philippine Depository & Trust Corp. (PDTC), the PSE noted 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 the number of Abra Mining shares lodged with PDTC exceeded the number of its listed shares, in violation of a PSE rule that only securities approved for li…
Keep on reading: Abra Mining trading halted over unlisted shares