800 registrations processed by SEC

OVER 800 new registration applications were processed and approved by the Securities and Exchange Commission (SEC) Cebu City extension office for the first half of the year, slightly less than the number of corporations that were registered for the same period in 2011.

A total of 582 stock corporations were registered and approved from January to June this year, making up a total of P462.9 million in paid-up capital, figures from the SEC showed. Some 279 non-stock corporations also had P28 million in contributions for the same period.

The commission also approved 85 partnerships, which contributed to P29.8 million in contributed capital.

The month of May found the most number of stock corporations registered with 121. But it was in June that yielded the most in paid-up capital, reaching P113.75 million.

As for non-stock corporations, the month of March yielded the most number of registration applications at 92, although it was for the month of May that the most in total contributions was met with P6.1 million.

The most submissions for partnerships came in March while total partnership contributed capital saw the highest in May with P8.1 million.

A total of 44 corporations filed for increase in authorized capital stock.

Net increase in authorized capital stock, or the number of capital stock shares issued, rose to P4.6 billion, higher than the P2.1 billion increase in 2011. As for subscribed capital stock, the SEC reported an increase of P1.7 billion and P1.45 billion in paid-up capital.

In 2011, SEC registered 667 stock corporations, 250 non-stock corporations and 61 partnerships. It saw an increase of P2.1 billion in authorized capital stock, P1.3 billion in subscribed capital stock and P1.16 billion in paid-up capital.