PSE hikes capital-raising goal to P170B

THE Philippine Stock Exchange, Inc. (PSE) is increasing its capital-raising target this year to P170 billion from P120 billion and from P82.4 billion in actual capital raised last year, amid an easing trade war between the world's two biggest economies that had fed fears of a global recession.

- Revin Mikhael D. Ochave Reporter

The new goal is based on capital-raising activities that have been applied for and does not yet take into account GCash's planned initial public offering (IPO), PSE President and Chief Executive Officer Ramon S. Monzon told a virtual news briefing last week.

"We expect this year to be a very high capital-raising year, a very successful year for PSE," he added.

Mr. Monzon said capital raised at the PSE had reached P42.42 billion as of May 14.

Some of the big IPOs expected include those from west zone water concessionaire Maynilad Water Services, Inc. and mobile wallet operator GCash.

"I'm really looking at IPOs, follow-on offerings, stock rights offerings and private placements because after all, the exchange is the platform where companies are supposed to raise capital," the PSE chief said.

Several panel discussions and fireside chats will focus on the challenges affecting Philippine industries and society and offer perspectives from experts and leaders across sectors.

The first panel discussion titled "Building an inclusive and resilient future for the Philippines" will examine ways to strengthen the country's economic foundation so it can better respond to challenges such as financial disruptions, health emergencies and natural disasters.

Panelists include Francis C. Gotianun, senior vice-president at Filinvest Hospitality Corp.; Monica L. Trajano, vice-president for commercial strategy at Aboitiz InfraCapital Economic Estates; and Robert Dan J. Roces, an economist at SM Investments Corp.