“We are actively working to introduce a final set of rules with an appropriate balance between investor protection and operational ease,” Monzon wrote. Proposals to expand the list of eligible issuers and ease disclosure requirements are being considered, he said.
The Philippine Stock Exchange plans to introduce trading of global depositary receipts in the first quarter of next year, in an effort to lure demand from local investors seeking better equity returns offshore.
There’s “significant interest” from prospective issuers and custodian banks in the peso-denominated instruments that represent shares in foreign-listed companies, exchange president and chief executive officer Ramon Monzon wrote via email.
