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Byline: Neil Jerome C. Morales
Corporate regulators have approved the reinstatement of the 10% minimum public ownership rule as a requirement for continued listing.
The rule, which was revoked in 2005, will take effect at the end of next month, the Philippine Stock Exchange (PSE) said in a memorandum posted in its website yesterday.
"Listed companies shall, at all times, maintain a minimum percentage of listed securities held by the public of 10% of the listed companies' issued and outstanding shares, exclusive of any treasury shares," the PSE said.
Reinstatement of the rule was recommended last January by the PSE board to the Securities and …