PHILIPPINES: PSE Announces Implementation Guidelines for the Listing of Issued and Outstanding Shares

Wednesday March 22 2023

On 21^st March 2023, the Philippine Stock Exchange (PSE) announced that the Securities and Exchange Commission (SEC) has approved the Implementing Guidelines for the Listing of Issued and Outstanding Shares which sets out the deadlines for filing listing applications, payment of subscription price in private placement transactions, and compliance with post-approval requirements, and penalties for non-compliance.

The Exchange has also revised the Checklists of Documentary Requirements for Pre-emptive/ Stock Rights Offering, Employee Stock Option Plan / Stock Purchase Plan, and Stock Dividend to include, among others, the SEC confirmation of exempt transaction.

The Guidelines and amended checklists of documentary requirements shall take effect immediately.

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