Philippine Telegraph and Telephone Corp. is eyeing to resume trading on the Philippine Stock Exchange nearly 20 years after its voluntary suspension, after it wiped out over P9 billion in capital deficiency following a debt-to-equity conversion.In a statement on Friday, PT&T said that it is “actively pursuing the resumption of its trading on the PSE.”PT&T shares have been on voluntary suspension since Dec. 13, 2004 due to issues on compliance with disclosure and reportorial requirements.
9 billion debt-to-equity conversion, paving the way for the issuance of preferred shares as outlined in the Rehabilitation Plan,” the telco said.“Furthermore, it enabled the partial settlement of statutory obligations, salaries, wages, and other employee benefits from the escrow accounts as of December 2023,” it said.PT&T said that the debt-to-equity conversion enabled the company to eliminate a total of P9.