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MANILA, Philippines – The Philippine Stock Exchange (PSE) is proposing to allow companies to directly list preferred shares without first conducting a public offering, a move aimed at giving issuers greater flexibility in raising capital through the local bourse.
In a second draft, the PSE sought comments from market participants on additional amendments to its proposed rules governing initial listings through preferred share offerings. Comments will be accepted until June 25.
The proposal builds on an earlier consultation done last April and incorporates feedback received from stakeholders.
Under the revised framework, companies may list preferred shares through either an initial public offering (IPO) or a direct listing, even without listing their common shares.
