{"id":332036,"date":"2025-03-28T00:42:32","date_gmt":"2025-03-27T16:42:32","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=332036"},"modified":"2025-03-28T00:42:34","modified_gmt":"2025-03-27T16:42:34","slug":"trade-the-news-sec-says-no-filing-yet-on-lower-minimum-public-ownership-for-ipos","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-sec-says-no-filing-yet-on-lower-minimum-public-ownership-for-ipos\/","title":{"rendered":"Trade the News: SEC says no filing yet on lower minimum public ownership for IPOs"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>NEUTRAL on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Globe Telecom<\/td><\/tr>
Stock Code<\/strong><\/td>GLO<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Buy<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 2,689.32<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

THE Securities and Exchange Commission (SEC) said it has not received any formal proposal to reduce the minimum public ownership (MPO) requirement for large initial public offerings (IPOs).<\/p>\n\n\n\n

\u201cIt didn\u2019t reach us. Once it reaches us, that\u2019s the time we will tell you. But for now, there\u2019s none,\u201d SEC Chairperson Emilio B. Aquino told reporters on the sidelines of the 2025 International Tax and Investment Conference hosted by the Asian Consulting Group in Pasay City on Wednesday.<\/p>\n\n\n\n

\u201cThe issuer has to apply. But so far, there\u2019s no filing yet\u2026 They should go to us first,\u201d he added.<\/p>\n\n\n\n

Mr. Aquino said any proposal to amend the MPO rule would undergo regulatory review, with the SEC evaluating multiple factors within a 45-day period before reaching a decision.<\/p>\n\n\n\n

\u201cThere are different regulatory objectives in mind. One is to promote. As much as possible, we want to get more listings. But at the same time, we should also balance protection. There are many factors that we have to consider,\u201d he said.<\/p>\n\n\n\n

Mr. Aquino\u2019s statement follows Philippine Stock Exchange (PSE) President and Chief Executive Officer Ramon S. Monzon\u2019s announcement last week that the exchange had secured SEC approval to lower the MPO threshold, aiming to encourage more companies to proceed with public listings.<\/p>\n\n\n\n

According to Mr. Monzon, IPO-bound companies may initially comply with a 15% public float, provided they commit to a follow-on offering or private placement within two to three years to meet the 20% MPO requirement.<\/p>\n\n\n\n

He said the adjustment is temporary and will be reassessed.<\/p>\n\n\n\n

\u201cWe have a two-year window, then if that\u2019s not working, we will extend it for another two years,\u201d Mr. Monzon said.<\/p>\n\n\n\n

The PSE\u2019s initiative aligns with GCash\u2019s planned IPO later this year. GCash is controlled by Globe Fintech Innovations (Mynt).<\/p>\n\n\n\n

Globe Telecom, Inc. President and Chief Executive Officer and Mynt Chairman Ernest L. Cu previously said the GCash IPO would partly depend on regulators allowing a reduced public float of 10-15% for larger offerings. He added that the IPO could target an $8-billion valuation.<\/p>\n\n\n\n

Mr. Monzon said GCash qualifies for the exemption as its IPO exceeds the P5-billion threshold.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-332036","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=332036"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332036\/revisions"}],"predecessor-version":[{"id":332038,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/332036\/revisions\/332038"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=332036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=332036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=332036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}