Dominion to resume trading today with no trading band
The PSE notified the market that it will lift the Dominion Holdings [DHI suspendedl] [link] trading suspension today that was first imposed on the company back in 2020 when BDO [BDO 147.00, up 3.7%; 122% avgVol] sold its interest in DHI (then known as BDO Leasing and Finance) and the transaction was deemed a backdoor listing. The agreement governing the sale of BDO’s interest was terminated in 2021 “for failure to comply with the closing conditions of the transaction”. As part of DHI’s comprehensive disclosure, the company said that BDO owns 88.54% of DHI’s shares, that the company did not have a “substantial change in its shareholding structure”, and that the company “did not undergo a financial restructuring... or any other proceeding.” The PSE noted that DHI will begin trading today without a static threshold because the shares have not been traded since January 2020. The static threshold is also called the “trading band”; it’s the PSE-imposed limit on the gain (+50%) and loss (-30%) in a single day of trading.
