SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Nov 2, 2017

2. SEC Identification Number

A200110402

3. BIR Tax Identification No.

213-054-503

4. Exact name of issuer as specified in its charter

SBS PHILIPPINES CORPORATION

5. Province, country or other jurisdiction of incorporation

PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10 RESTHAVEN STREET, SAN FRANCISCO DEL MONTE, QUEZON CITY Postal Code 1105

8. Issuer's telephone number, including area code

(02) 371 1111

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	1,247,999,999

11. Indicate the item numbers reported herein

ITEM 9: OTHER EVENTS

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

SBS Philippines CorporationSBS

PSE Disclosure Form 4-14 - Stock Rights Offering References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Update on the Stock Rights Offering
Background/Description of the Disclosure
The Company received the PSE Notice of Approval for its Stock Rights Offering. The notice of approval provides that the Board of Directors of The Philippine Stock Excahnge, Inc., in its meeting of 25 October 2017, approved, subject to certain conditions, the application of the Company to list up to 302,000,00 common shares ("Rights Shares") to cover its Stock Rights Offering to its stockholders.

Date of Approval by Board of Directors	Jul 14, 2017
Entitlement Ratio	TBA
Offer Price	TBA
Number of Shares to be Offered	302,000,000
Ex-Rights Date	Nov 17, 2017
Record Date	Nov 22, 2017
Start of Offer Period	Nov 27, 2017
End of Offer Period	Dec 5, 2017

Use of Proceeds
The net proceeds from the Offer will be used by the Company to (i) support the capital requirements of its subsidiary, SBS Holdings and Enterprises Corporation (PhP 1.2 billion) to pursue investment opportunities in property related assets and businesses and (ii) provide for general working capital requirements of the Company (PhP 292 million).
Other Relevant Information
The final Offer Price and Entitlement Rate will be determined on November 10, 2017, Pricing Date, computed based on the volume-weighted average of the Company’s common shares on the PSE for the 15-day trading period immediately preceding the Pricing Date, subject to a discount to be determined on Pricing Date. This amends the Company Announcement under Circular No. C04424-2017 to report on the approval of the Exchange of the stock rights offering of the Company.