Trading ban on Philippines Infradev stocks lifted

MANILA, Philippines —  The Philippine Stock Exchange (PSE) has lifted the trading suspension imposed on listed Philippine Infradev Holdings Inc. after more than three months.

The PSE imposed the suspension on the trading of Philippine shares last May 17 after the company failed to submit its annual report for the fiscal year 2023 and its quarterly report for the period ending March 2024.

“Please be advised that the company has complied with Sections 17.8 (a) and 17.8 (b), Article VII of the Consolidated Listing and Disclosure Rules, as amended, of the exchange,” the PSE said.

Trading of Philippine Infradev shares resumed yesterday, opening P0.50 and closing at P0.54 per share. The company’s share price closed at P0.53 on May 16, 2024.

Philippine Infradev is the company putting up the Makati Subway project, a 10-kilometer railway system to be built in Makati and is touted as the biggest PPP project for a local government unit.

The company is also establishing a wholly-owned real estate subsidiary.

Last July, Philippine Infradev announced the return of businessman Antonio Tiu to the company after resigning from the post in February 2023.

Tiu was elected as president as well as director of the company.