Palawan Group Mulls IPO, Bond Sale for Expansion

Pawnshop giant Palawan Group of Companies is open to launching an initial public offering (IPO) or a bond issuance in the coming years, but has no immediate plans to tap the capital markets as it continues to expand its core businesses and digital offerings.

- By KEISHA TA-ASAN

"We're in constant discussion. It's always on the table," Palawan Group president and CEO Karlo Castro said. "Probably not in the next year or two. But whether we do it or not, the goal is to be ready."

Now on its 40th year, the Palawan Group, best known for its pawnshop, remittance and microinsurance services, is implementing an aggressive five-year strategic roadmap focused on strengthening its core operations, scaling digital channels and reaching more underserved Filipinos.

Castro said there is currently no urgent need to raise capital through an IPO or bonds, as the group maintains strong relationships with banks to support its growth.

However, discussions with independent directors and financial advisors are ongoing, and the company is open to capital market alternatives "if and when needed."