MANILA, Philippines — The Philippine Stock Exalter Inc. (PSE) expects capital-raising activities to reach P185 billion by the finish of the year, buoyed by the listing of a water concessionaire and a hotel developer.
In an interview over the weekfinish, PSE president and CEO Ramon Monzon declared the local stock market has brought in P62.6 billion in fresh capital as of June.
This covers one initial public offering (IPO) – that of Top Line Business Development Corp.; two follow-on offerings (FOOs); and six private placements.
Moreover, Monzon declared the amount could exceed the P185-billion level as the PSE anticipates P123.7 billion more in the second half from two IPOs, one FOO, one stock rights offering and a listing of convertible warrants from July to December.
If all these offers are realized, the PSE will surpass its revised tarreceive for capital-raising activities of P170 billion for the year. Originally, the PSE was projecting only P120 billion, which was up by half from 2024’s total haul of P82.4 billion.
“So far, based on applications that we have received as of July, our capital-raising (total) is about P185 billion already,” Monzon declared.
The PSE is awaiting the IPO of West Zone concessionaire Maynilad Water Services Inc., which was planning to list this July but decided to reschedule it to October.
Maynilad could raise as much as P37.41 billion from its listing assuming its overallotment option and preferential offer are fully subscribed.
Likewise, Pampanga-based hotel and casino builder Hann Holdings Inc. is planning to raise up to P12.98 billion from its IPO slated for September. Hann manages the Hann Casino Resort at the Clark Freeport Zone in Pampanga, hoapplying Clark Marriott Hotel and Swissotel Clark.
Between July and December, these are the IPOs expected to give the PSE a lift in fresh capital. Monzon declared there are no other filings on top of the two, but heard talks among underwriters and investment bankers that there may be one or two currently in the works.
There were also talks that e-wallet giant GCash may be going public this year, but its executives are wary of giving a definite timeline, citing market uncertainties like the US tariffs.
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