THE Philippine Stock Exchange, Inc. (PSE) has published the supplemental listing and disclosure rules applicable to a Public-Private Partnership (PPP) company following its receipt of the signed rules from the Securities and Exchange Commission (SEC).
“We are excited about this new product especially as government has committed to accelerate infrastructure spending. We hope that PPP companies will now consider the equities market as an avenue for their capital raising activities. We thank the SEC, the PPP Center and other stakeholders for supporting this product,”said PSE President and CEO Hans Sicat.
Under the PPP listing and disclosure rules, the applicant PPP company does not have to meet the required minimum three-year track record and operating history, provided that it complies with the additional listing and disclosure requirements for PPP companies. The applicant PPP company must be a corporation awarded a PPP contract with a minimum project cost of P5 billion. Likewise, the applicant company should have completed, at the minimum, a phase of the project and has commenced commercial operations and/or maintenance services depending on the nature of the contract. (PR)