To delist would mean that the company will be taken out of the Philippine Stock Exchange (PSE) and will no longer be tradeable through the exchange. Delisting is the opposite of Initial Public Offering (IPO). Should you have shares of a stock that has expressed its intent to delist, it is recommended to sell your stock either through the market or through a tender offer to convert your stocks into cash. A delisted company stock is difficult to convert back into cash.
Companies who were delisted from the PSE will have to convert their scripless/electronic shares into stock certificates. This process is called upliftment. The upliftment process usually follows these guidelines:
- Shareholder would need to submit forms and IDs to start the upliftment process
- Some upliftment process will require a personal appearance at the stock transfer office
- Fees for the upliftment process will be debited from your COL account
- Documents and requirements will be submitted to the stock transfer office assigned
- The stock transfer office will process the upliftment
- This usually takes months - depending on the situation of the company
- Stock certificates will then be created
- COL Financial will inform the shareholder where to pick up the stock certificates