Share offering applications can now be made online – SEC

To ease doing business

MANILA, Philippines — All applications for public offerings to the Securities and Exchange Commission (SEC) will now be submitted online as part of the agency’s continuing initiatives to improve the ease of doing business in the county.

The SEC said it is streamlining companies’ entry to the capital market by shifting the submission of applications for public offerings fully online and shortening processing timelines.

“By modernizing and simplifying our processes, we hope to encourage more businesses to view and enter the capital market as a viable option for their growth, in line with our agenda to further deepen and stimulate market activity in the country,” SEC chairperson Francis Lim said.

Through the issuance of SEC Memorandum Circular 24, Series of 2026, the commission provides for the mandatory use of the Online Application for Registration Statements.

OARS is a web-based platform that allows companies to electronically submit registration statements and other required filings containing key details about the company, its operations and securities being offered, among others.

The SEC said the platform underwent stakeholder testing prior to its rollout to ensure responsiveness to the needs and requirements of its intended users.

Except for issuances of debt securities, the OARS platform accepts applications for the registration of securities through direct public offerings, follow-on offerings, initial public offerings and first-tranche shelf registrations.

It likewise accepts applications under specialized registration programs of the SEC, such as the Securing and Expanding Capital for Real Estate Non-Traditional Securities  or SEC RENT and the Securing and Expanding Capital for PowerGen Operators and Wholesale of Electricity and Retail Services or SEC POWERS.

The commission said it may also amend or include additional types of registration and applicable forms that can be submitted through the platform.

Applications filed through OARS would be processed within 40 days upon payment of the initial assessment fee, the SEC said.

“The rollout of OARS reflects the commission’s commitment to further improving the ease of doing business in the country through automation and faster turnaround times,” Lim said.

To use OARS, authorized company representatives must create credentialed accounts under the Electronic SEC Universal Registration Environment or eSECURE, the official passport to all online services of the commission.