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So A Philippine Company Just Announced They're Making All Their Shares Crypto

plsburydoughboy

plsburydoughboy

Banned
Oct 25, 2017
137
What a strange story.

OK, so let's start here:

Joseph Calata (born July 31, 1980) is a Filipino business tycoon, agricultural industrialist and philanthropist.

He currently serves as the Chairman/President and Chief Executive Officer of Calata Corporation,[1] the largest combined distributor of agro-chemicals, feeds, fertilizers, and seeds in the Philippines.

Joseph is largely credited as the one being responsible for bringing his company into the elite group of Top 1000 companies in the country. At age 31, he became a self-made billionaire following his company's initial public offering (IPO) in the Philippine Stock Exchange (PSE). He also distinguished himself that time as the youngest chairman of a publicly listed company in the PSE
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PSE approves Calata delisting
Philippine Daily Inquirer / 05:30 AM October 28, 2017
The Philippine Stock Exchange (PSE) has approved the delisting of agricultural products distributor Calata Corp. for multiple violations of disclosure requirements and the restrictions on the trading of shares held by directors and officers.
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The following tweets and images courtesy ANC journalist Warren De Guzman.




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You can read an alternate account of the press conference courtesy Bloomberg TV Philippines.

And yeah, this is crazy LMAO. FWIW, Calata made this announcement at a good moment (MOMENT! Emphasis on that) for Bitcoin:

Bitcoin Just Reached Another New All-Time High
By David Meyer
6:56 AM ET
The value of the bitcoin cryptocurrency hit a new all-time high on Sunday, reaching $6,306 before settling down to somewhere around $6,170 at the time of writing on Monday morning.

Bitcoin's previous record came around nine days previously, when it cleared $6,060. However, after that it fell as low as $5,374 before evening out, then climbing up to a new high on Sunday.
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If you do know of any other companies that took their stocks to crypto just after getting delisted, please share it here!

Like seriously, I want to know, because AFAIK this is the first one to do it.
 
John Marston

John Marston

Member
Oct 27, 2017
263
Securities and Exchange commision and Philippine Stock Exchange will have some things to say about that.
 
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