MANILA – The Philippine Stock Exchange Inc. (PSE) has published the rules for listing of companies involved in Public-Private Partnership (PPP) projects.
Under the PPP Listing and Disclosure Rules, the applicant company does not have to meet the required minimum three-year track record and operating history as long as it complies with the additional listing and disclosure requirements for PPP companies.
The applicant must be a corporation awarded a PPP contract with a minimum project cost of P5 billion and should have completed a phase of the project.
“We hope that PPP companies will now consider the equities market as an avenue for their capital-raising activities,” PSE president and chief executive Hans Sicat said in a statement on Monday.
Infrastructure listing is also allowed in other Asian markets such as Bursa Malaysia, Hong Kong Exchanges and Clearing Ltd., Japan Exchange Group, Stock Exchange of Thailand, and Taiwan Stock Exchange.
“We still need to do a lot more to catch up with our peers in the region and we hope with the cooperation and help of all stakeholders, we can get closer to our vision of becoming a world-class exchange,” Sicat said.
The PSE was recently named “best stock exchange” in Southeast Asia by institutional investment magazine Alpha Southeast Asia.
12 December 2016