The Securities and Exchange Commission (Philippines) said its Commission En Banc on March 12 rendered effective PHC’s registration statement covering up to 46.93 billion common shares, subject to compliance with remaining requirements.
Shares will debut on the Philippine Stock Exchange at an initial listing price of P1.20 each.
The transaction will be done by way of introduction, allowing PHC shares to begin trading publicly without raising fresh capital through an initial public offering.
The listing stems from a 2021 property dividend declared by Philippine National Bank, which distributed 51 percent of PHC shares to its own shareholders, widening the company’s investor base.
Once the process is completed, PHC will have more than 30,000 shareholders, largely made up of PNB investors who received the shares.
As of February 2026, 98.08 percent of the property dividend shares have already been distributed, with the remaining 1.92 percent representing less than one percent of PHC’s outstanding stock.
PHC holds several prime real estate assets, including the PNB Financial Center in Pasay, PNB Makati Center, and an 8,000-square-meter Makati property at Gil Puyat Avenue and Paseo de Roxas, forming the backbone of the group’s property portfolio.
—Edited by Miguel R. Camus
