The Securities and Exchange Commission (SEC) on Monday resolved the long-running uncertainty on the application of foreign ownership limits in Philippine corporations, saying that the 40-percent Constitutional cap must be applied to shares that entitle owners to vote, as well as the broader classification of shares whether they qualify their owners to vote or not.
The Securities and Exchange Commission has approved a plan by the Rebisco group’s commercial banking arm Asia United Bank to debut on the Philippine Stock Exchange and sell as much as P9.68 billion in shares of stock.
Large companies that operate retail establishments and restaurants in Metro Manila rode through the stronger-than-expected economic growth last year while understaffed, accounting for about one-fourth of job vacancies last year.
The local gaming unit of Macau’s Melco Crown group has obtained approval from the Securities and Exchange Commission to jack up its authorized capital stock ahead of a $400-million fresh equity offering plan.
The Philippines may have reached investment-grade status but its corporate watchdog, the Securities and Exchange Commission, is languishing at sub-par payroll levels and now faces an exodus of key officers.
The Securities and Exchange Commission has allowed the Philippine Stock Exchange to tweak guidelines for the nomination and election of board members so as to allot only a single seat representing small brokers.
The Securities and Exchange Commission has approved Philippine Bank of Communications’ bid to beef up and simplify its capital base.
Energy Development Corp., the country’s largest producer of geothermal energy, is seeking regulator’s approval to proceed with the issuance of fixed rate bonds next month to raise up to P7 billion.
The long-running plan of the Philippine Stock Exchange to set up its own equities depository system has taken shape as the wholly owned clearing house Securities Clearing Corp. of the Philippines (SCCP) bagged a provisional license to operate as a securities depository.
The Securities and Exchange Commission chalked up a record-high collection of P2.7 billion in 2012 as robust capital markets encouraged more securities registration.
The Securities and Exchange Commission is no longer keen on imposing a 60-40 percent local-foreign ownership restriction on each class of shares, as originally intended by the controversial Supreme Court ruling on the capital of Philippine Long Distance Telephone Co.
THE PHILIPPINE Stock Exchange is proposing some “safety valve” mechanism to ensure compliance with foreign equity restrictions without discouraging capital flows within the regulatory framework being drawn up by the Securities and Exchange Commission.
