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MANILA - The Securities and Exchange Commission (SEC) has considered favorably the initial public offering (IPO) by Bank of Commerce and fixed-rate bond offering by San Miguel Corporation (SMC). In its February 15 meeting, the commission en banc resolved to render effective the registration statements of Bank of Commerce and SMC covering 1,403,013,920 common shares and up to PHP60 billion in fixed-rate bonds under shelf registration, respectively, subject to their compliance with certain remaining requirements. Bank of Commerce Bank of Commerce will offer to the public up to 280,602,800 common...