The Philippine Stock Exchange has approved the listing of leasing and financing firm Makati Finance Corp.(MFC) on its small and medium enterprise board by Jan. 6 next year.
MFC is currently focused on two main loan products, factoring of receivables and consumer loans to medical professionals.
MFC was incorporated in 1966 under the name Makati Investment and Finance Co. It was initially involved in stock dealership functions, extension of credit lines and the acceptance of placements. In the mid-'70s, the company shifted to leasing and financing operations and before settling on its current focus.
The PSE said in a circular yesterday that MFC would hold its initial public offering of 19.56 million common shares or about 26 percent of total stock from Dec. 11 to 18.
