tv MANILA - Philippine Deposit Receipt issued by ABS-CBN Holdings are purely financial instruments and its holders are "passive investors" who have no rights to own, manage or to vote directors in ABS-CBN Broadcasting Corp, the network's legal counsel said Thursday.
The PDRs are contractual agreements with the holding company, which is ABS-CBN Holdings and not with ABS-CBN Broadcasting, she said. Other companies in the country also offer PDRs. It also has a US counterpart called American Depositary Receipts, she said.
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