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PSE keeps Punongbayan & Araullo as fairness opinion and valuation agent

August 23, 2012 1:02pm
The Philippine Stock Exchange (PSE) is keeping Punongbayan & Araullo, a professional services firm, as an accredited agent for issuing fairness opinions and valuation reports of listed companies and applicants for initial public offering.
 
In a memorandum, the PSE said that its board of directors – during a regular meeting on Tuesday, Aug. 22 – “approved the application of Punongbayan & Araullo for the renewal of its accreditation…”
 
The accreditation is valid for a year, the PSE said, noting that a fairness opinion on companies applying for listing can only be issued by an independent company registered and licensed by the Securities and Exchange Commission and accredited by the PSE.
 
Punongbayan & Araullo is a member of Grant Thornton International, an organization of independently owned and managed accounting and consulting firms, according to its website.
 
Other companies currently accredited by the PSE to issue fairness opinions and valuation reports are:
  • ING Bank N.V. (Manila)
  • UBS Investments Philippines Inc.
  • BPI Capital Corporation
  • CLSA Exchange Capital Corporation
  • Isla Lipana & Co.
  • Credit Suisse (Singapore) Ltd.
  • Unicapital Inc.
  • Manabat Sanagustin & Co. CPAs
VS, GMA News
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