MANILA, Philippines — The Philippine Stock Exchange on Friday announced it affirmed with finality the delisting of troubled agricultural company Calata Corp., which will take effect on Monday, December 11. “Accordingly, the Exchange affirmed, with finality, the delisting of the Company’s shares from the Official Registry of the Exchange and the imposition of the concomitant penalties under the Exchange’s Delisting Rules,” it added. Last month, the PSE announced the delisting of Calata, forcing the firm to do a tender offer as "an exit mechanism" for shareholders even as its owner said making a tender offer would send Calata to bankruptcy. This is not the first time Calata was mired in a stock market controversy. In 2012, the year it went public, the company’s name was also dragged in stock market manipulation.

Source: Philippine Star December 08, 2017 09:11 UTC