Fintech firms may drive IPO activity

THE financial technology (fintech) sector is expected to drive initial public offering (IPO) activity in the Philippine stock market later this year through 2027, Citigroup Inc. (Citi) said, as investor interest gradually returns to the local equity market.

- Katherine K. Chan

Rob Chan, head of Equity Capital Markets (ECM) Syndicate for Asia at Citi, said the Philippine equity market is likely to remain stable, with several companies — particularly fintech firms — seen lining up potential listings.

“We could see more (IPO activity) coming from the Philippines, but that’s, to my understanding, perhaps later in the year, or perhaps even slipping into 2027,” he told reporters.

“What we are excited to sec is, to the extent there’s going to be growth in businesses, especially around fintech names that investors are expecting,” he added.

IPO activity in the Philippines has been muted in recent years. In 2025, only two companies completed their listings, falling short of the Philippine Stock Exchange’s (PSE) target of six IPOs.