PSE chief eyes four IPOs this year

THE Philippine Stock Exchange (PSE) is setting a modest target of about four initial public offerings (IPOs) this year, underscoring the cautious pipeline for equity fundraising after listings fell short of expectations last year.

- A.G.C.Magno

“We only targeted four (IPOs) for this year,” PSE President and Chief Executive Officer Ramon S. Monzon told reporters on Friday.

Mr. Monzon said the local bourse is targeting to raise around P170 billion to P175 billion in capital this year. This would be higher than the P144.14 billion in total capital raised in 2025.

The goal follows a weak IPO turnout in 2025, when only two companies listed despite a target of six.

Cebu-based fuel distributor and retailer Top Line Business Development Corp. debuted in April, while West Zone water concessionaire Maynilad Water Services, Inc. completed its offering in November.

Mr. Monzon said that among the IPOs they are anticipating this year are electronic wallet platform GCash and PNB Holdings Corp’s (PHC) listing by way of introduction.

“I don’t know if the PNB will go first, (or) maybe Globe will go first,” he said. “I think GCash will file soon. Maybe not in the first quarter, [maybe] when the revised float is passed,” Mr. Monzon added.