December 23, 2020 | 7:54 pm Font Size
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THE PUBLIC offerings of Philippine Stock Index Fund Corp. (PSIF) and Cityland, Inc. have been cleared by the corporate regulator, giving investors more choices to see their funds appreciate.
In a statement on Wednesday, the Securities and Exchange Commission (SEC) said it approved the registration statements of PSIF that covers up to P50 billion worth of units of participation, and Cityland for commercial papers that amount up to P815 million.
The public offering of PSIF will be up to P50 billion units of participation, with an initial price of P1 apiece, the SEC said.
“The fund will invest the proceeds in securities comprising the Philippine Stock Exchange Composite Index for capital appreciation, which will in turn benefit unit holders,” it said.