[Federal Register Volume 59, Number 223 (Monday, November 21, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-28678]


[[Page Unknown]]

[Federal Register: November 21, 1994]


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SECURITIES AND EXCHANGE COMMISSION
 

Issuer Delisting; Notice of Application To Withdraw From Listing 
and Registration; (Philippine Long Distance Telephone Company, Common 
Stock, P5 Par Value) File No. 1-3006

November 15, 1994.
    Philippine Long Distance Telephone Company (``Company'') has filed 
an application with the Securities and Exchange Commission 
(``Commission''), pursuant to Section 12(d) of the Securities Exchange 
Act of 1934 (``Act'') and Rule 12d2-2(d) promulgated thereunder, to 
withdraw the above specified security (``Security'') from listing and 
registration on the American Stock Exchange, Inc. (``Amex'').
    The reasons alleged in the application for withdrawing the Security 
from listing and registration include the following:
    According to the Company, in addition to being listed on the Amex, 
its American Depositary Receipts (the ``ADRs'') representing the 
American Depositary Shares (the ``ADSs'') each representing one share 
of Common Stock have been listed on the New York Stock Exchange, Inc. 
(``NYSE'') and Pacific Stock Exchange, Inc. (``PSE''). The Company's 
ADSs commenced trading on the NYSE and PSE at the opening of business 
on October 19, 1994 and concurrently therewith the Common Stock was 
suspended from trading on the Amex and PSE.
    In making the decision to withdraw its common stock from listing on 
the Amex, the Company considered the direct and indirect costs and 
expenses attendant in maintaining the dual listing of its ADRs 
representing ADSs on the NYSE and PSE and its common stock on the Amex 
on the PSE. The Company does not see any particular advantage in the 
dual trading of its stock and believes that dual listing would fragment 
the market for the common stock and its ADRs.
    Any interested person may, on or before December 6, 1994 submit by 
letter to the Secretary of the Securities and Exchange Commission, 450 
Fifth Street, N.W., Washington, D.C. 20549, facts bearing upon whether 
the application has been made in accordance with the rules of the 
exchanges and what terms, if any, should be imposed by the Commission 
for the protection of investors. The Commission, based on the 
information submitted to it, will issue an order granting the 
application after the date mentioned above, unless the Commission 
determines to order a hearing on the matter.

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 94-28678 Filed 11-18-94; 8:45 am]
BILLING CODE 8010-01-M