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Listing and Enrollment

Introduction

PDEx Issuer Services are designed to provide the issuer community with diversified opportunities to meet the needs of the investors. The Listing Program provides an avenue for issuers to reach a more diversified investor base extending all the way to retail investors, while the Enrolment Program allows issuers access to the inter-professional market. Through these programs, issuers can bring their issues to their desired investor base.

Securities Admission Program

The admission of securities for trading provides a centralized platform for an orderly market, price transparency, and full and timely disclosures by listed issuers, thus enhancing the attractiveness of the instruments to investors and at the same time, providing investor protection.

The Listing Program admits securities that are available for purchase and sale to both non-Qualified Investors and Qualified Investors (as defined under Securities Laws and Regulations and the PDEx Rules). Eligible securities for listing include among others, government securities, corporate bonds, bank unsecured subordinated notes and long term negotiable certificates of time deposit.

Listing Qualifications

To qualify for listing, issuers and their respective securities shall follow the applicable qualification requirements under the PDEx Listing and Enrolment rules.

Below is a summary of the basic admission requirements.

ListingEnrollment
Legal EntityMust be any of the following:

  • Philippine National Government

  • Philippine political subdivision, government agency or Philippine government owned or controlled corporation

  • Government of any country with which the Philippines maintains diplomatic relations

  • Supranational body or international organization composed of member states

  • Duly registered with and licensed to do business in the Philippines by the SEC and other applicable governmental authority

  • Other entity approved by the SEC and other applicable governmental authority to have its securities sold, purchased or traded in the Philippines
Standing with regulators, or other SRO/exchangeMust be in good standing with the applicable governmental authorities, self-regulatory organization or other exchange where a class of securities of the Issuer may be listed

Listing
Terms of the securityTechnologically capable of being traded on the PDEx Trading Platform
Form of security

  • Dematerialized, or

  • In the case of certificated securities issued prior to effectivity of PDEx Rules, must be immobilized with qualified Securities Depository.
Day Count StandardsMust follow any of the following day count conventions:

  • 30E/360 ISMA non end of month

  • Actual/Actual

  • Actual/360

  • Actual/365
Due diligence requirementMust have been performed in accordance with applicable regulatory standards by appointed Underwriter/Arranger/Issue Manager
RegistryMust have a licensed Registry
Facility Agent/TrusteeMust have a Facility Agent (or Trustee, if required under the terms and conditions of the issue)
Transferability

  • Freely transferable to non-Qualified Investors and Qualified Investors

  • Must have no restrictions on transferability to investors of different tax categories
SEC Registration

  • Must be SEC-registered under SRC Sec. 8 or exempt securities under SRC Sec. 9

  • Must be exempt from SEC registration according to SRC Sec. 9 or SRC Sec. 10
Credit RatingIssuer or Issue must be rated at time of listing by duly licensed credit rating agency
Liquidity Providers

  • For corporate securities: Must be subject of the commitments of at least 1 market maker and 2 broker specialists

  • For bank issues: Must be subject of the commitments of at least 3 broker specialists

    Continuing Obligations

    Listing

    • Compliance with applicable disclosure obligations, including:

    ─ Disclosure of all material information which may affect the price or value of issue or the decision to buy, sell or hold the admitted security
    ─ Submission of periodic reports (e.g., annual report, quarterly report, audited financial statements)

    • Compliance of its personnel with securities laws and PDEx rules
    • Payment of fees
    • Disclosure/reportorial requirements for listed issuers under securities laws and PDEx rules
    • Continual rating of issuer/issue

    Issuer List

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    Issuer Disclosures

    Filing DateDisclosure No.Listed IssuerDisclosure Title
    02/26/2025640-2025SM Prime Holdings, Inc.Disclosure-No.-640-2025-Material-InformationTransactionsCorporate-Actions
    02/26/2025639-2025Rizal Commercial Banking CorporationFile not found
    02/26/2025638-2025Bank of CommerceDisclosure-No.-638-2025-Change-in-Directors-andor-Officers-ResignationRemoval-or-AppointmentElection
    02/26/2025637-2025Robinsons Land CorporationDisclosure-No.-637-2025-Buy-Back-of-Shares
    02/26/2025636-2025Aboitiz Power CorporationDisclosure-No.-636-2025-Material-InformationTransactionsCorporate-Actions
    02/26/2025635-2025Philippine National BankFile not found
    02/26/2025634-2025DoubleDragon Corporation (formerly DoubleDragon Properties Corp.)Disclosure-No.-634-2025-Notice-of-Record-Date
    02/26/2025633-2025DoubleDragon Corporation (formerly DoubleDragon Properties Corp.)Disclosure-No.-633-2025-Notice-of-Record-Date
    02/25/2025632-2025Ayala Land, Inc.File not found
    02/25/2025631-2025Ayala Land, Inc.Disclosure-No.-631-2025-Clarification-of-News-Report-Ayala-Land-eyes-15-logistics-hubs-4000-hotel-rooms

    Disclaimer

    All data contained herein are prepared and submitted by the disclosing party to PDEx, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

    PDEx does not warrant and holds no responsibility for the completeness and accuracy of the facts and representations contained in all issuer disclosures, including financial reports.

    Listed Securities

    PDS Listed Securities
    (as of February 10, 2025)