The Philippine Stock Exchange (PSE) has suspended its Rules on Listing by Way of Introduction under its Revised Listing Rules and will stop accepting applications under these rules which has been considered a loophole in its stringent listing requirements.
The recently revised PSE rules allows firms to list their shares at the bourse without first undertaking an initial public offering as long as they are required to go public by law and of they commit to do an IPO within 12 months.
In a memoradum dated February 18 but posted on February 19, PSE general counsel and issuer regulation head Roel Refran said the bourse’s board decided on the temporary suspension of the rules in their meeting last February 17.
The main purpose of the whole stock market setup is twofold: 1)a company lists or goes public, to get money from investors for use in expansion, settling debts, etc., and 2) for investors to get into and buy into companies easily, no matter how small their share size is. 
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