This content is from: Local Insights

Philippines

The briefing entitled 'Full disclosure rules issued' in the September 1997 issue of International Financial Law Review misstated the definition of public companies in the new Full Disclosure Rules. The following is the correct definition.

Public companies are:

  • companies that have registered their shares for sale to the public;
  • companies whose securities are listed on the stock exchange; and
  • companies that have Ps50 million (US$1.4 million) in assets, and at least 200 shareholders each holding 100 or more shares.

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