Greenergy Holdings wants voluntary trading suspension of shares

By , on May 13, 2015

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MANILA — Following the Court of Appeals’s (CA) order to freeze the bank accounts , investments, and insurance policies of several members of the Binay family and others linked to them, Tony Tiu’s Greenergy Holdings Inc. is now seeking a voluntary trading suspension of shares at the Philippine Stock Exchange.

The company said that it had to “prevent any unusual volatility in the trading of its securities that may cause investor panic.”

Hence, it will be requesting for the Philippine Stock Exchange to implement a voluntary suspension of trading of its securities.

The Greenergy Holdings is one of the companies included in the list on the freeze order.

It became the biggest loser in the morning trade with shares plunging to nearly 10 percent at the PSE.

“As such, the company shall avail of all legal remedies necessary to protect its rights and interest,” the company said adding that the CA order has “no legal and/or factual basis.”