PSE suspends trading in shares of ABS-CBN Corp. and PDR of ABS-CBN Holdings Corp.

May 6, 2020

Trading in shares of ABS-CBN Corp. and Philippine Deposit Receipts issued by ABS-CBN Holdings Corp. were suspended by the Philippine Stock Exchange (PSE) on Wednesday.

The suspension took effect  at 9 am, the PSE said. Trading in the PSE began at 9:30 pm.

ABS-CBN closed at P17.50 on Tuesday.

The PSE said ABS-CBN ''must submit a full disclosure on the impact of the CDO ( cease and desist order) on the business, financial condition, operations, and prospects of the Company, as well as its business continuity plan, risk mitigation measures, and such other material information for the investing public.''

The National Telecommunications Commission ordered ABS-CBN to shut down after its congressional franchise expired on May 4.

However, dzMM Teleradyo and ABS-CBN News Channel are still running on cable television.

''The trading suspension shall be lifted one  trading day after dissemination of the full disclosure to the investing public,'' the PSE said. DMS