The Securities and Exchange Commission has drafted a new set of guidelines on foreign ownership in partly nationalized industries—a more liberal framework wherein the 40-percent foreign equity limit is prescribed on both the voting shares and total outstanding shares. The draft guidelines, which the SEC is releasing for further public feedback, make the recent [...]
The securities and Exchange Commission has drafted a new set of guidelines on foreign ownership of certain industries in line with a Supreme Court ruling that only voting shares be considered in determining compliance with the 40 percent constitutional cap on foreign ownership of local companies.
The Securities and Exchange Commission (SEC) has approved the increase in the capital of flag carrier Philippine Airlines as the company prepares for a more aggressive expansion to regain its dominant position in the air travel sector.
Taipan Lucio Tan has hurdled the remaining local and foreign regulatory approvals needed to execute the much-awaited merger between his banking arms Philippine National Bank and Allied Banking Corp. by next month.
A group of shareholders have asked the Securities and Exchange Commission and the Bureau of Internal Revenue to recall their orders that led to the suspension of trading of the shares of seven listed companies.
The Philippine Stock Exchange is all set to suspend starting Jan. 2 the trading of the shares of seven listed companies that failed to comply with the 10-percent minimum public ownership requirement. Ten companies failed to comply with the minimum public float required for continuing listing, but the trading on three issues had been [...]
The Supreme Court (SC) has ruled with finality that the 60-percent Filipino ownership over foreigners required by the Constitution to engage in certain economic activities, particularly public utilities, extended not only to the voting rights but also to the beneficial ownership of the corporation.
The Securities and Exchange Commission has uncovered a P244-million “double-your-money” scam perpetrated by a Pasay-based trading firm Aman Futures Group Phils. Inc. that allegedly victimized investors—especially low-income earners—in Pagadian City and other parts of Visayas and Mindanao.
The Securities and Exchange Commission has approved a plan by Coal Asia Holdings, a coal and energy holding firm that controls the country’s second-biggest coal reserves, to conduct an initial public offering worth P800 million.
There is now no legal impediment for the criminal prosecution of eight foreigners who were sued by the Securities and Exchange Commission (SEC) on the basis of a complaint initiated by a Cebu-based businessman who accused the foreigners of selling membership shares of the Nomad Sports Club (NSC) amounting to about P100 million.
Agriculture product distributor Calata Corp. has vowed to cooperate with the Securities and Exchange Commission in its ongoing investigation into the unusual trading of its shares after its listing on the stock exchange last May.
Tycoon Henry Sy’s SM Investments Corp. is set to offer of as much as P15 billion in long-term bonds before the end of June after obtaining approval from the Securities and Exchange Commission.
