The public offerings of Philippine Stock Index Fund Corp. (PSIF) and Cityland Inc. were approved by the Securities and Exchange Commission (SEC). The commission on Wednesday said it accepted the registration statements of PSIF covering P50 billion units of participation and Cityland’s P815-million commercial papers. Index tracker fund PSIF will offer up to P50 billion units of participation at an initial price of P1 apiece. “The fund will invest the proceeds in securities comprising the Philippine Stock Exchange Composite Index for capital appreciation, which will in turn benefit unit holders,” SEC said in a statement. The units will be offered through the fund’s authorized distributors, Affinity Capital Corp., BPI Capital Corp., BPI Investment Management Inc. (BIMI), Citicorp Financial Services and Insurance Brokerage Philippines Inc., COL Financial Group Inc., First Metro Securities Brokerage Corp., Wealth Securities Inc. and Unicapital Securities, Inc., along with other authorized and accredited distribution firms.