THE Securities and Exchange Commission said Friday at least nine companies expressed interest in listing in the Philippine Stock Exchange as a result of the nationwide capital market roadshow it conducted for micro, small and medium enterprises.
SEC commissioner Kelvin Lester Lee said in a speech during the listing ceremony for AC Energy’s P25-billion preferred shares offering the nine companies had started discussions with the PSE for possible initial public offering.
The SEC earlier embarked on a nationwide roadshow that seeks to support the growth of MSMEs and start-up companies by pushing the capital markets as an accessible option for raising capital for business expansion.
The agency held roadshows in Davao City, Zamboanga City, Metro Manila, Baguio City, Cebu City and Cagayan de Oro City. It is also slated to go to Pampanga next week to attract MSMEs in Central Luzon and Cagayan Valley regions.
The initiative is part of the SEC’s 888@88 goal, which means that there should have been at least 888 companies that tapped the capital market by the time the SEC celebrates its 88th anniversary by 2024.
It achieved 71 percent of the target so far as 630 companies already tapped the capital market.
Lee said to facilitate the listing of MSMEs, the SEC streamlined the registration process and encouraged investment houses and other financial institutions to implement SME-friendly underwriting and advisory programs.
The SEC is also urging MSMEs to consider crowdfunding as an accessible and convenient means for businesses to secure funds for expansion, instead of applying for traditional bank loans, which require tedious documentation, high interest rates and mandatory collateral requirements.
Crowdfunding is a fundraising activity typically conducted by start-ups and SMEs where the public can support or fund a business idea through an online platform.
More than 200 businesses successfully raised capital through crowdfunding platforms as of end-2022.
