METRO MANILA – Premiere Horizon Alliance Corporation (PHA) is set to be included on the highly-tracked FTSE Global Equity Index Series for Asia Pacific ex-Japan ex-China on the FTSE Micro Cap and FTSE Total Cap indices effective 19 March 2021.
The inclusion was announced in the 19 February 2021 FTSE Global Equity Index Series Semi-Annual Review.
The FTSE Global Equity Index Series (GEIS) provides market participants with a series of seamless global equity benchmarks for use in the development of institutional investor policy directions and as the basis for index-linked products.
Premiere Horizon was able to hurdle the requirements for index inclusion which are: a) eligibility screening in terms of minimum voting rights, minimum free float, and foreign ownership, b) a minimum investable market cap of US$25M and c) liquidity thresholds based on median daily trading volume per month.
PHA has an average daily trading volume of Php190M since the 29 October 2020 disclosure. Premiere Horizon announced that the group of Marvin Dela Cruz, principal owner of SquidPay Technology Inc. (SPT), a leading fintech company, will be acquiring 55% ownership of PHA for a total consideration of Php925M.
To date, the Php300M cash payment has been completed and the balance of Php625M will be a combination of cash and/or SPT shares.
Premiere Horizon is an investment holding company with a vision of countryside development through pioneering technologies and innovative business models.
PHA is involved in the following businesses: a) contract mining through its subsidiary, Premiere Georesources and Development Inc. (PGDI), b) real estate development through its subsidiary, Goshen Land Capital, Inc. and c) tourism estate development through its subsidiary, West Palawan Premiere Development Corp (WPP).
PHA has also set into motion the transformation of WPP into PHA Land, a national real estate development company. PHA Land shall be its vehicle to pursue countryside and township development, first home residential and co-living projects, resort and leisure destinations, and light industrial logistics hubs. PHA also recently announced its venture into AgriTech through its subsidiary PHAgriForest. – BusinessNews.ph