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The Securities and Exchange Commission on Thursday said that while it remains firm on the 20% minimum public float requirement s for companies looking to go public, it has allowed an initial public float of 15% for select firms, through exemptive relief “subject to strict criteria”.In a statement, the SEC said companies may apply for the relief as long as they bridge any gap from the 20% standard within two years from the listing date, and only as the agency deems necessary.
While the Commission welcomes new listings, it upholds stringent regulatory standards that safeguard the integrity and long-term stability of the Philippine capital market and the broader economy,” it added.Under SEC Memorandum Circular 13 Series of 2017, the minimum public ownership on IPOs was raised to 20% from the 10% requirement at the time.
Sec Ipo Public Float Requirement
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