New PSE site to start 2008
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Wednesday, October 17, 2007 |
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New PSE site to start 2008 |
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After years of having two trading floors, the Philippine Stock Exchange (PSE) may finally enjoy a unified trading venue in two years, an Ayala Land Inc. (ALI) executive said on Monday. On the sidelines of the launch of a mall in Quezon City, Jaime Ysmael, ALI chief financial officer, said the country’s biggest property developer and the Fort Bonifacio Development Corp. (FBDC) would start constructing the single-tower traditional office building by late next year. FBDC is a joint venture firm of Bonifacio Land Corp. and state-run Bases Conversion Development Authority (BCDA), which is at the forefront of the former military base’s development. Early this year, the PSE board and the developers signed a memorandum of agreement for the construction of the building that would have at least 30 levels and a total gross floor area of 30,000 to 40,000 square meters in Bonifacio Global City, Taguig. Under the agreement, the local bourse would swap its 2,182-square-meter lot donated by FBDC in 2004 located near the NBC tent with another lot in Fort Bonifacio Global City’s West Super Block where the Hyundai showroom is located. Ysmael said ALI, FBDC and the PSE would all infuse capital for the development, but the required amount has yet to be finalized. The local bourse is currently trading in two separate locations, one at the Ayala Stock Exchange and its head office at the Tektite towers in Ortigas Center, Pasig City. Prior to the formation of PSE, the Makati Stock Exchange (MkSE) and Manila Stock Exchange (MSE) remained separate entities for 30 years even though these were trading the same listed issues. After the unification, the PSE still maintained the two trading floors. |
Manila Times Intrnet edition
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