MANILA - The Securities and Exchange Commission (SEC) has considered favorably the maiden share offering by Medilines Distributors Incorporated and a follow-on offering by Sta. Lucia Land, Inc. In its meeting on October 12, the commission en banc resolved to render effective the registration statements of Medilines and Sta. Lucia Land covering 2,750,000,800 common shares and 3 billion common shares, respectively, subject to certain remaining requirements. Medilines will offer to the public up to 550,000,000 primary common shares priced up to PHP2.45 each, plus a secondary offering of up to 275,000,000 shares to be sold by selling shareholder, Virgilio Villar. The shares will be listed and traded on the main board of the Philippine Stock Exchange, Inc. (PSE). The company expects to net PHP1.28 billion from the sale of the primary shares. It will not receive proceeds from the sale of shares by the selling shareholder, which could amount to PHP641.2 million. Proceeds from the offer will b