The Securities and Exchange Commission (SEC) is offering a 30-percent discount on registration fees to companies that file to go public by the end of the year to boost activity in the local capital market.
The discount applies to all registration statement applications submitted until Dec. 31, 2025, including initial and follow-on public offerings, bonds, investment contracts, and other securities. The initiative is based on SEC Memorandum Circular No. 9, Series of 2025, issued on July 24.
“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 chairman Francisco 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,” said Lim.
Under current rules, companies planning to issue bonds and equities are required to pay no more than 0.1 percent of the total value of securities being offered.
The SEC also said it would strictly adhere to a 45-day review timeline for most registration statements. This timeline begins once companies pay an initial portion of their registration fee and submit proof of payment along with required documents.
The streamlined process involves coordination among several SEC departments, including the Corporate Governance and Finance Department, the Office of the General Accountant and the Office of the General Counsel.
Applicants should respond to SEC comments and issues within specific timeframes as part of the 45-day window. Failure to meet these deadlines could result in the denial of the application and forfeiture of part of the fees.
These guidelines do not apply to agri-business firms and hospitals, which follow a shorter 28-day review process.
