PSE plans to dissolve PDSHC

January 14, 2026 | 12:00am

MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE) plans to become the sole holding company following its takeover of the Philippine Dealing System Holdings Corp. (PDSHC).

PSE president and CEO Ramon Monzon has expressed intent to dissolve PDSHC, the holding company that owns the Philippine Dealing & Exchange Corp. (PDEx) and the Philippine Depository & Trust Corp. (PDTC), which serves as the depository for equities and fixed income securities.

“There is no need to have two holding companies, so dissolve PDSHC. The remaining shareholders will be given PSE shares. And then PDEx and PDTC will become direct subsidiaries of PSE,” he said.

The PSE has consolidated PDSHC in its financial statements after the latter became its majority-owned subsidiary in December 2024.

Last month, the PSE entered into a share purchase agreement with the Land Bank of the Philippines to buy the latter’s 134,372 common shares of stock, equivalent to 2.15 percent of the total issued and outstanding stock of PDSHC.

The acquisition brings PSE’s stake in PDSHC to 94.21 percent from 92.06 percent previously.

Total purchase price for all the PDSHC shares bought by the PSE from various sellers since December 2024 has now reached P2.75 billion.

The PSE wants to raise its stake in PDSHC to as high as 97 percent through the acquisition of shares held by the state-run Development Bank of the Philippines (DBP), which owns 192,776 shares representing a 3.08-percent stake in PDSHC.

“We are now waiting for DBP. DBP is just a procedural question. Landbank was able to get an exemption from the bidding requirement,” Monzon said.

“We also have three foreign banks that have very small (shareholdings) and they said it is not worth it anymore for them to try to get approval from the headquarters,” he said.

Through the acquisition of PDSHC, the PSE aims to align the Philippine capital market with other markets globally, which have a single exchange structure for fixed income and equities.

It also provides investors with a facility to trade fixed income, equities and other products in a unified marketplace.

Further, it will enable the PSE to develop new products and services in light of the operational efficiencies and synergies expected to result from the vertical integration.

A more efficient integrated market surveillance and monitoring for both equities and fixed income markets for investor protection is likewise anticipated.

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