Philippine Stock Exchange Expects Record-Breaking Capital-Raising Activities

Strategic Insights -

The Philippine Stock Exchange (PSE) anticipates a significant boost in capital-raising activities, surpassing its revised target of P170 billion by the end of the year. The PSE president and CEO, Ramon Monzon, attributed this expectation to the listing of a water concessionaire, Maynilad Water Services Inc., and a hotel developer, Hann Holdings Inc. These listings are expected to raise up to P37.41 billion and P12.98 billion, respectively. The PSE has already received applications totaling P185 billion as of July, exceeding its revised target.

Key Takeaways:

  • The Philippine Stock Exchange (PSE) expects capital-raising activities to reach P185 billion by the end of the year, exceeding its revised target of P170 billion.
  • The PSE has already received applications totaling P185 billion as of July, driven by the listing of a water concessionaire, Maynilad Water Services Inc., and a hotel developer, Hann Holdings Inc.
  • Maynilad Water Services Inc. is planning to raise up to P37.41 billion from its listing, while Hann Holdings Inc. is aiming to raise up to P12.98 billion.
  • The PSE initially projected only P120 billion in capital-raising activities, up by half from 2024's total haul of P82.4 billion.
  • The PSE is awaiting the IPO of West Zone concessionaire Maynilad Water Services Inc., which was planning to list in July but rescheduled it to October.
  • The PSE has brought in P62.6 billion in fresh capital as of June, covering one initial public offering (IPO), two follow-on offerings (FOOs), and six private placements.
  • 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.

Statistics:

  • P62.6 billion: The amount of fresh capital brought in by the PSE as of June.
  • P82.4 billion: The total capital-raising activities of the PSE in 2024.
  • P120 billion: The initial projection of capital-raising activities by the PSE.
  • P170 billion: The revised target of capital-raising activities by the PSE.
  • P185 billion: The expected capital-raising activities by the end of the year.
  • P37.41 billion: The maximum amount that Maynilad Water Services Inc. can raise from its listing.
  • P12.98 billion: The maximum amount that Hann Holdings Inc. can raise from its IPO.

Sources:

  • "PSE sees capital-raising activities reaching P185 billion by year-end." Manila Standard (July 2024).
  • Interview with Ramon Monzon, PSE president and CEO, over the weekend.
  • "PSE expects P170-billion capital-raising target to be breached." Philippine Daily Inquirer (June 2024).
  • "Maynilad Water Services Inc. IPO to push through in October." BusinessWorld (July 2024).
  • "Hann Holdings Inc. IPO slated for September." The Manila Times (August 2024).
  • "GCash to go public soon, but no definite timeline yet." Rappler (June 2024).