We refer to the PSE’s letter dated June 14, 2023 requesting PLDT Inc. (“PLDT”) to clarify information and/or to provide relevant information in relation to the news article entitled “PLDT unit to raise $150-M fresh funds for Maya“ as posted in BusinessWorld (Online Edition) on June 14, 2023. The news article states, in part, as follows:
“PLDT Inc.’s Voyagers Innovations, Inc. is looking to raise up to $150 million in fresh funds this year to strengthen its integrated money platform, Maya, its chairman said.
‘I think there’s an effort to raise some money, around $100-150 million,’ said Manuel V. Pangilinan, who chairs the listed telecommunications company, on the sidelines of its annual stockholders’ meeting on Tuesday.
‘I think the focus of attention is new stockholders but given market conditions, I think the existing stakeholders may have to participate for a portion,’ he added.
Mr. Pangilinan said Voyager is currently negotiating with potential foreign investors to raise the funds, while PLDT is also expected to participate. . . . .
INITIAL PUBLIC OFFERING
Meanwhile, PLDT President and Chief Executive Officer Alfredo S. Panlilio said the market listing of Maya is being considered.
‘Of course, the plan eventually is to consider that, but I think [we have to] really improve the fundamentals of the bank first,’ said Mr. Panlilio.
. . . .
Meanwhile, the digital bank is expected to positively contribute to PLDT in the next two to three years.
. . . .”
We confirm that Messrs. Pangilinan and Panlilio made their respective statements in the foregoing news article. However, in doing so Mr. Pangilinan was not giving any forecast or guidance on the funding requirements of Maya Bank, Inc. (“Maya”). He was merely expressing his personal opinion on possible fundraising activities of Maya. Neither was Mr. Panlilio disclosing plans for Maya’s public listing. He was merely conveying his personal aspiration for Maya to eventually list its shares with the PSE once the bank’s fundamentals have improved.
We reiterate that the foregoing pronouncements include forward-looking statements that are subject to a number of risks and opportunities that could affect PLDT’s business and results of operations. Although PLDT believes that expectations reflected in forward-looking statements are reasonable, it cannot guarantee any future performance, action, or event. |