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DDS maiden product offering set

The newest product of The Philippine Stock Exchange Inc., the Dollar Denominated Securities (DDS), is set to have its first product offering.
Listed company Del Monte Pacific Limited will have a follow on offering of US Dollar Denominated Series A-1 Preference Shares from March 22 to 28, 2017.
The shares, which will be trading under the stock symbol DMPA1, are scheduled to be listed on April 7, 2017.
“We are pleased to have the first product offering under our Dollar Denominated Securities program just months after the final DDS rules have been approved by the Securities and Exchange Commission.
We hope to open up new opportunities for our issuers and investors through this offering,” said PSE president and CEO Hans Sicat.
Investors with US dollar deposit accounts may subscribe to a DDS offering or trade DDS since the security is listed, traded, and settled in US dollars.
Subscription to DDS offering as well as trading of DDS can only be done through identified Eligible Brokers or such brokers who are operationally ready for DDS trading.
As of March 20, 2017, Armstrong Securities Inc. and BdO Securities Corp. have been approved by the Exchange as DDS eligible brokers.
More trading participants may be added to the list of eligible brokers once the Exchange determines their preparedness to handle DDS trades.
BdO Unibank, Inc. has been designated as the Settlement Bank by the Securities Clearing Corporation of the Philippines.
The Board Lot Table for DDS was adjusted from its peso denominated counterpart to make the minimum lot sizes more affordable to investors.
Fees and taxes that are applied to peso trades are also applicable to DDS transactions in Philippine peso.

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