PSE increases stake in PDS to 91.04% after acquiring additional shares

The Philippine Stock Exchange (PSE) has increased its stake in the Philippine Dealing System Holdings Corp. (PDS) to 91.04% after acquiring an additional 8% from Tata Consultancy Services Asia Pacific Pte. Ltd.

On April 14, PSE acquired 500,000 common shares of PDS, bringing its total stake up to 91.04%, as part of its broader strategy to establish a unified marketplace for trading fixed income and other financial products.

PSE's previous acquisitions include deals with Citicorp Capital Philippines Inc., Singapore Exchange Ltd., Whistler Technologies Inc., San Miguel Corp., Golden Astra Capital Inc., the Financial Executives Institute of the Philippines Research and Development Foundation, the Investment House Association of the Philippines, AIA Philippines Life and General Insurance Co. Inc., the Social Security System, Insular Investment Corp., the Bankers Association of the Philippines, and several of its member banks.

The market operator's strategy to unify the local capital market with a single exchange structure for fixed income securities and equities continues to progress, providing easier access to both equity and debt markets for companies.

PSE reported a significant increase in net income, up 57.5% to P1.21 billion for 024 following its acquisition of PDS shares.

On Tuesday, PSE's share price dropped by 0.54%, closing at P184 per share.