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Despite fresh headwinds, PSE sees more IPOs this year
The Philippine Star
|May 12, 2025
The Philippine Stock Exchange Inc. (PSE) remains optimistic that the country's initial public offering landscape will surpass last year's performance despite a fresh wave of headwinds that could make market conditions unattractive for some IPO aspirants.
PSE president and CEO Ramon Monzon said he is confident the country can still do more IPOs this year than in 2024.
"Of course Maynilad and GCash are the high-profile ones, but there are still many others. We're getting inquiries," Monzon told The STAR.
In 2024, three companies conducted their maiden listing—OceanaGold Philippines Inc., Citicore Renewable Energy Corp. and NexGen Energy Corp.
The PSE is looking to double last year's number with a total of six IPOs targeted for 2025.
So far, only one company has gone public this year, with Top Line Business Development Corp. raising P732.6 million from its IPO last month.
Top Line, which was supposed to be the fourth and final IPO in 2024, decided to pursue its maiden offer this year despite acknowledging the presence of broader market challenges affecting investor sentiment both locally and globally.
This story is from the May 12, 2025 edition of The Philippine Star.
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