SEC Offers Incentives to Spur Public Offerings

The Securities and Exchange Commission (SEC) is implementing strict timelines and offering discounts to companies conducting public offerings until year-end, as part of efforts to stimulate the capital market.

- Richmond Mercurio

The commission issued Memorandum Circular 9, Series of 2025, which further streamlines the evaluation and approval process for registration statements by integrating clearance processes across departments of the commission in the 45-day processing timeline provided under the Securities Regulation Code.

It likewise gives a 30-percent discount on the assessed registration fees of all registration statement applications until Dec. 31, 2025.

"Our goal for the Philippine capital market is clear—increase market participation to bring it up to par with our peers in the Southeast Asian region," SEC chairperson Francis Lim said.

"The SEC will streamline processes and provide discounts or incentives where possible, in order to encourage more businesses to tap the capital market, enabling them to unlock their full growth potential through diverse financing options," he said.

All registration statement applications by companies seeking to conduct initial public offerings or follow-on offerings are covered by the new guidelines.