Receiving Bank

 

Comply with industry best practices by appointing an independent receiving bank when your company borrows from or offers its shares to the public. BDO Trust and Investment Group will receive the funds from subscribers/investors of the initial public offering (IPO), bond or other issuances. Thereafter, BDO Trust will release the proceeds in accordance with the guidelines issued by the Securities and Exchange Commission (SEC).
 

Client Suitability

This service is suitable for companies wishing to engage in the public offering of securities and other capital or debt issues.
 

Service Features

BDO Trust will handle subscription payments of public offering of securities and other capital or debt issues and safekeep and release the proceeds in accordance with the SEC-approved work program for the company whose shares are being issued.
 

Benefits to Clients

Appointing a Receiving Bank benefits both the issuer and the prospective share holders/notes holders since an objective and independent party will be handling and monitoring the receipt of subscription payments for the securities/debt issues/shares. The Receiving Bank will ensure delivery of subscription payments to the issuer. It will also be convenient for the issuer because it need not deal directly with all the prospective subscribers/investors of the IPO/bond offer but with a single Receiving Bank instead.

  • Receiving Bank Agency Agreement
  • Notarized Secretary's Certificate on the Board Resolution of the corporation a) appointing BDO Trust and Investments Group as Receiving Bank and b) designating the authorized signatories therefor
  • Copy of Certificate of Filing of Articles of Incorporation and By-laws issued by the SEC with the Articles and By-laws annexed certified true by SEC or the Corporation's Corporate Secretary
  • List of the directors/officers and list of stockholders holding more than 2% stockholdings of the Corporation
  • Two (2) Specimen Signature Cards and Customer Account Records (to be provided by BDO-Trust) duly signed/accomplished by the authorized signatory/ies of the Corporation and duly authenticated by the Corporation's Corporate Secretary
  • Photocopies: Picture and signature pages of acceptable identification cards (passports, driver's license, SSS, TIN etc.) of the signatories of the IPO/bond offer but with a single Receiving Bank instead.
     

Corporation

  • Other documents as required under the Receiving Bank Agency Agreement.

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