GCash, PNB Holdings to drive IPOs this year

The Philippine Stock Exchange (PSE) is targeting P170 billion in capital raising for the year, marking a more than 20 percent increase from the previous year's P140 billion haul as regulators prepare to ease listing hurdles for tech giants and smaller enterprises alike.

- JAMES A. LOYOLA

PSE President Ramon S. Monzon said in an interview on Friday, Jan. 10, that the bourse is collaborating with the Securities and Exchange Commission (SEC) on policy reforms designed to revitalize the local capital market.

These reforms include the recently-amended rules on real estate investment trusts, which expand REIT-able assets to various infrastructure projects such as tollways, airports, and telecommunications towers.

A cornerstone of this strategy is the anticipated initial public offering of GCash, the country's dominant mobile wallet, alongside the imminent listing of PNB Holdings Corp.