THE Philippine Stock Exmodify, Inc. (PSE) has raised its capital-raising tarreceive for 2025 to P185 billion, up from the P170 billion announced in May and markedly higher than the P120 billion estimated at the start of the year.
“If you will remember, in the launchning of the year, I projected six IPOs and a capital-raising tarreceive of P120 billion, which is 50 percent more than the previous year’s P80 billion (that was actually raised),” Monzon informed reporters on Friday.
“[W]ell, I’m glad to report I consider we’ll be hitting at least P180 billion in capital raising this year. Hopefully more if there are more applications we receive in this third and fourth quarter.”
Monzon explained that capital raising hit P62.6 billion in the first half, generated via one initial public offering (IPO), two follow-on offerings (FOOs) and six private placements.
“For the second half, based on the applications we’ve received to date, we expect an additional capital-raising activity of about P123.7 billion,” he added.
“So total for the year so far is about 185 billion.”
The upcoming capital-raising activities were stated to include two IPOs, two more FOOs, one stock rights offering (SRO) and one listing of convertible warrants.
One of those IPOs will be that of Maynilad Water Services Inc., which has decided to delay its stock market debut from July 17 to no later than the finish of October, citing interest from possible strategic investors who have yet to decide on whether to acquire into the firm’s IPO.
Maynilad, which is mandated under its concession agreement with the government to go public, has pegged its IPO size at P45.78 billion. It plans to offer 1,660,317,400 common shares, priced at up to P20 apiece, with an overallotment option of up to 249,047,600 shares and a preferential tranche of up to 24,904,800 shares.
In June, meanwhile, Hann Holdings Inc. — owner and developer of the integrated resort brand Hann Resort — filed for a P13-billion IPO involving up to 550 million shares at a maximum price of P23.60 apiece.
Monzon stated that aside from Maynilad and Hann Holdings, some underwriters and investment bankers had stated that other companies were also considering staging IPOs this year.
The PSE is still tarreceiveing six IPOs for 2025. Cebu-based fuel retailer Top Line Business Development Corp. is so far the only one to have gone public, raising P732 million in April.
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