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The Sec urities and Exchange Commission has yet to decide on lowering the 20% minimum public float requirement as it has not yet received an application for exemptive relief, a top official said Wednesday. SEC chairperson Emilio Aquino said the agency has yet to receive a request from GCash to lower the minimum public float to 10% to 15% for it to go public.“Wala pa . It never reached me. It hasn’t reached me yet… So far wala pa namang filing eh .
The prospective GCash IPO is one of the most anticipated initial public offerings, seeking at least $8 billion in valuation when it goes public possibly later this year, according to a Bloomberg report with Globe Telecom Inc. president and chief executive officer Ernest Cu.In the report, Cu also said this will partly depend on whether the SEC would agree to a lower minimum public float requirement of 10 to 15%.“We have to evaluate. There are so many things we have to consider.
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