The Securities and Exchange Commission said it remains firm on the 20-percent minimum public float required for companies applying for an initial public
offering .
It is also subject to strict criteria as companies that will benefit from the exemptive and would need to bridge any gap from the 20 percent within two years from the listing date. “The float requirement also seeks to reduce ownership concentration and encourage good corporate governance, ultimately strengthening the Philippine capital market,’ the SEC said.
“They must review the reasons while the SEC raised the public float requirement to 20 percent. The 20 percent is even low versus other the public float requirement in other Asian exchanges,” the broker said.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NBA: Nikola Jokic logs NBA's first 30-20-20 game as Nuggets win in OTLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Nikola Jokic logs NBA’s first 30-20-20 game as Nuggets win in OTIt’s another incredible night for the reigning MVP as Nikola Jokic records a historic stat line in the NBA
Read more »
SEC to expand govt securities repo marketTHE Securities and Exchange Commission (SEC) wants to expand the Government Securities (GS) Repurchase Agreement (repo) Market to include participants other than eligible dealers.
Read more »
DBP income jumps 20% to P7.1B in 2024STATE-OWNED Development Bank of the Philippines' (DBP) net income surged to P7.1 billion in 2024 — its highest in the past 10 years — representing a 20-percent increase from 2023 as the bank ramped up its lending activities to key sectors in support of the Marcos Jr. administration's socio-economic agenda.
Read more »
20 foreigners, two Pinoys nabbed in Parañaque City POGO raid undergo inquestLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
20 foreigners arrested in Parañaque raid undergo inquestLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »