SEC-Zamboanga advises public to be prudent in buying shares of stock in hospitals

ZAMBOANGA CITY, Dec. 24 (PNA) — The Securities and Exchange Commission (SEC) here has advised the public to exercise prudence in dealing with any individuals or groups of persons selling shares of stock in hospitals.

Lawyer Jesus Salvador Uro, SEC-Zamboanga Extension Office director, issued the advised after his office was informed about several individuals or groups of persons have been offering or “pre-selling” securities to the public in the form of shares of stock in hospitals currently under construction in this city.

Uro said the information further showed that these shares of stock allegedly grant the purchaser certain hospital benefits to attract investors.

These include but not limited to waived or discounted operating Room fees; free or discounted private room, ward and Intensive Care Unit (ICU) accommodations; discounts on use of ICU equipment, medicines, medical supplies and other merchandise; and, discount on hospital services as well as Out-Patient and In-Patient cases rates.

Uro said these shares of stock being offered are within the definition of “securities” under Section 3.1 of the Securities Regulation Code (SRC) and are required under Section 8 of SRC to be registered with the SEC before being offered or sold to the general public.

He urged the public who has knowledge or information about any transaction involving securities to report to the SEC so that appropriate measures can be taken. (PNA)
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