MANILA, Philippines - The Philippine Stock Exchange (PSE), is looking at six to eight initial public offerings (IPOs) this year or possibly double the four IPOs last year, its top official said.
“We’re looking at six to eight IPOs this year. It should be better than last year,” PSE president Hans Sicat said in a recent interview.
Sicat declined to name which companies but noted that some of these IPO candidates already have pending applications with the PSE.
Sicat said the environment is likely better this year as some of the global uncertainties have already dissipated. These include last year’s policy rate setting meeting of the US Federal Reserve, the US elections and move of Britain to exit from the European Union.
Among the IPO bound companies are Xeleb Inc., the celebrity mobile games company of listed technology company Xurpas Inc., media technology company Audiowav and home and construction supplier Wilcon.
Last year, total capital raised from the local bourse including IPOs amounted to P170.12 billion, slightly lower than the P184.60 billion raised for the whole of 2015.
IPOs alone amounted to P29 billion last year from P5 billion in 2015, according to data from the First Metro Investment Corp., the investment banking arm of George Ty-owned Metrobank.
Read more at http://www.philstar.com/business/2017/01/16/1662580/pse-looking-8-ipos-year
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