PT&T CORP. is about to complete the requirements for its return to trading at the Philippine Stock Exchange (PSE) this year, according to its top official.
“We are on track,” PT&T President and Chief Executive Officer James G. Velasquez told reporters on the sidelines of an event last week. “The plan is to be able to do that within the year. So, hopefully within the first half is our objective.”
Toby Allan C. Arce, head of sales trading at Globalinks Securities and Stocks, Inc., said the company’s plan to resume trading at the PSE aligns with market trends.
“If the broader economic and stock market conditions in 2025 improve, it could create a conducive environment for PT&T’s reentry,” he said in a Viber message on Sunday. “However, uncertainty due to global economic headwinds remains a risk.”
Mr. Velasquez said the company is in the process of meeting the requirements and regulatory approvals for the plan.
“There are still a few things that we need to complete,” he said. “But I would say 90% of what we need to do has been completed. So we’re at the tail end of that.”
Mr. Arce said PT&T’s reentry this year is strategic given the digital transformation and expansion of telecommunications and broadband services.
“This is assuming the industry’s robust growth continues,” he said. “Meeting all Philippine Stock Exchange requirements will likely boost investor confidence in the company’s governance and compliance standards.”
Increasing demand for high-speed internet and digital connectivity especially in underserved areas might position PT&T as a key player, Mr. Arce said.
“Supportive government initiatives for digital infrastructure could catalyze growth for PT&T,” he said. “The company’s ability to communicate its turnaround story effectively will be critical in influencing market reception.”
Incorporated in 1962, PT&T is a diversified company that caters to corporate, small and medium businesses and residential segments.
The company was listed in 1990 but requested a voluntary trading suspension in December 2004 after failing to meet the local bourse’s reportorial requirements and as the company faced financial challenges.
Last year, PT&T said it was actively pursuing its return to the market after recording strong performance in 2023.
The Securities and Exchange Commission in November 2023 approved an increase in PT&T’s authorized capital stock to P12.6 billion from P3.8 billion, allowing it to facilitate a debt-to-equity conversion of P8.9 billion, according to its website.
Last week, SecureLink Networks, Inc., the joint venture between PT&T and Australia’s Netlinkz Ltd., announced its plan to establish a multimillion-dollar tech facility in the Philippines to enhance the country’s connectivity and cybersecurity. — Ashley Erika O. Jose
