Mikee Romero’s Globalport in danger of being kicked out of PSE for falling below 10% minimum public float
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Mikee Romero’s Globalport in danger of being kicked out of PSE for falling below 10% minimum public float

Globalport 9000 (PORT) of party-list Representative Mikee Romero is in danger of being delisted from the Philippine Stock Exchange (PSE) after its minimum public ownership fell below the 10 percent floor requirement.

“Should the Corporation remain non-compliant with the minimum public ownership requirement after the lapse of the six (6)-month period from January 4, 2022, the date on when its public ownership level fell below 10 percent, PORT shall be automatically delisted from the Official Registry of the Exchange,” the PSE said.

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PORT’s pubic float shrank from 10.82 percent to 8.46 percent primarily due to the election of one of its stockholders, who owns 1.53 percent of the Romero firm, as a director of the company.

The PSE has also imposed a six-month suspension on PORT whose shares have not been traded for the last eight years due to its failure to submit audited financial reports.

 

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