TOLEDO, KRISITNE S.

FMGT 2B

IPO TRADING REQUIREMENT: GENERAL CRITERIA

CRITERIA MAIN BOARD

Operating History Three (3) years of engaging in materially the same business
Requirement
Board of Directors At least 7 directors, with 2 or 20% being independent, and each
Requirement director must own at least one share.
Profit Test A.) Cumulative net income, excluding non –recurring items, of at
least Php75 million for three (3) full fiscal years immediately
preceding the application for listing; AND

B.) Minimum net income of Php50 million for the most recent fiscal
year

For this purpose, the Applicant Company shall submit to the

Exchange audited consolidated financial statements for the last three
(3) full fiscal years preceding the filing of the application. The
financial statements must be accompanied by an unqualified external
auditor’s opinion.
Stockholders’ Equity Stockholders’ equity must be at least Php500 million for the most
Requirement recent fiscal year
Minimum Number of At least 1000 stockholders, each holding stocks equivalent to one
Stockholders upon board lot.
Listing
Minimum Public 20% upon and after listing
Offering