THE Supreme Court has laid down the 60-40 ratio of ownership in a listed company. It said the computation in favor of Filipino owners must be applied separately in each class of shares. As to the total, the High Court has so ruled in what is now known as the Gamboa case that the same ratio must also be applied to it. That is, at least 60 percent of the outstanding capital stock, even if composed of other classes of shares than common shares, should be owned by Filipinos.
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