PNB Holdings Corporation (PHC) has clarified that the timing of its planned stock market listing remains under review, citing prevailing market conditions as a key consideration, following reports that the LT Group has pushed back the listing of its property unit.
In a statement, PHC said that it has been undertaking preparatory work to place itself in a position to pursue a listing, with timing subject to market conditions and its objective of protecting and enhancing shareholder value.
“While the Company continues to maintain a state of readiness, current market conditions are not fully aligned with the objective of value protection and value creation for shareholders,” PHC said in its statement.
PHC added that it continues to evaluate market conditions to determine an appropriate time to proceed with the listing, taking into account the interests of its shareholders and other stakeholders.
The Company noted that it will make the necessary disclosures in accordance with applicable laws, rules, and regulations once a definitive listing timetable has been determined and duly approved.
PHC emphasized that the clarification was issued to provide a full, fair, accurate, and timely disclosure based on information currently available.
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