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3 high-profile IPOs won’t take place this year
The Philippine Star
|May 03, 2024
Three high-profile initial public offerings (IPOs) will not happen this year due to unfavorable market conditions.
The highly anticipated IPOs of Enrique Razon's Prime Infrastructure, SM Prime's real estate investment trust (REIT) and Ayala-backed e-wallet pioneer GCash have all been deferred and are unlikely to take place this year.
In a recent interview with ANC, Prime Infra president and CEO Guillaume Lucci said the company's planned IPO is probably unlikely in the medium-term.
Lucci said there is no new timeline, noting that there's not even certainty of an IPO.
"You know, there are many different ways to raise capital so we're evaluating all the available options. We live in a very uncertain world.
Look at what's happened to share prices with the Russia and Ukraine war and look at what's happening now in Iran, between Iran and Israel.
That, combined with a very unpredictable rate market, it's very difficult to decide what the best path forward is to raise capital," Lucci said.
This story is from the May 03, 2024 edition of The Philippine Star.
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