Shareholders of Dominion Holdings Inc. (DHI), formerly BDO Leasing and Finance Inc., can now trade their shares in the Philippine Stock Exchange (PSE) after more than four years of trading suspension.
DHI said in a disclosure to the stock exchange trading of the company’s shares resumed Tuesday, following compliance with regulatory requirements.
The SEC issued the order of suspension against DHI for its failure to amend its registration statement to reflect the change in primary purpose from leasing and financing company to a holding company.
DHI trading was suspended on Jan, 27, 2020 because of this. It was last traded on Jan 24, 2020 when it closed at P3.16.
DHI submitted its final amended registration statement to the SEC in June 2024.
The SEC lifted the suspension on July 1, 2024, while the PSE resolved to lift the trading suspension of DHI effective Aug. 20, 2024, after the company filed its comprehensive corporate disclosure.
DHI changed its corporate name to its present one in August 2020, in line with BDO’s objective to re-purpose DHI from a financing company into a holding company.
The company said that as an investment holding company, DHI would have more flexibility in pursuing business opportunities that could enhance shareholder value.
The company’s primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies and engage in investment and business activities involving these assets.
DHI registered a 7.3 percent year-on-year growth in net income to P134.5 million in the first half of 2024 from P125.3 million a year ago. First-half gross revenues were nearly flat at P163.5 million.
DHI earlier voluntarily surrendered its secondary license as a financing company to the SEC as it ceased its leasing and finance operations in October 2022.
