The Securities and Exchange Commission is urging other companies to list in the stock market to raise capital.
SEC chairperson Emilio Aquino Jr. said during a seminar organized by the Philippine Stock Exchange, “(Initial Public Offerings) propel progress, opportunities and livelihood.”
Aquino said that to support the growth of the IPO market, the SEC approved amendments to the PSE listing boards to ensure that the PSE requirements are at par with regional peers and would encourage more companies to list.
The PSE has also amended its listing rules by relaxing the profitability and operating history requirements for listing. The rules also provided a temporary relief clause in considering applications amid the pandemic.
Aside from the easing of the track record and operating history requirements and the COVID-relief clauses, the PSE’s new rules also provided sponsor model provisions for listing applicant companies at the SME Board.