PSE hikes capital-raising target to over P186 billion this year

THE PHILIPPINE Stock Exchange, Inc. (PSE) once again raised its target for capital raising this year, as the stock market operator now expects the amount to reach over P186 billion.

- By Revin Mikhael D. Ochave

PSE President and Chief Executive Officer (CEO) Ramon S. Monzon said in a virtual briefing on Saturday that the local bourse is projected to raise P186.3 billion in capital this year, with P123.7 billion expected in the second half.

"For the first half of the year, our capital raising was about P62.6 billion, that's one initial public offering (IPO), two follow-on offerings (FOO), and about six private placements," he said.

"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, composed of two IPOs, two FOOS, one stock rights offering, and one listing of convertible warrants," he added.

This is the second time the PSE hiked its capital-raising target. In May, Mr. Monzon raised the target to P170 billion from the initial target of P120 billion.

In 2024, the PSE raised P82.4 billion in capital, down by 42% from the P140.95 billion raised in 2023.

Mr. Monzon said the PSE is awaiting the IPO of Pangilinanled water provider Maynilad Water Services, Inc. and Hann Holdings, Inc., the operator of Hann Resorts in Pampanga.

"For the IPOs, we have two filings with us that we've actually processed already, the filing of Maynilad, and we are now processing the filing of Hann Resorts," he said.