The Philippine Stock Exchange (PSE) said over the weekend it expects capital raising in the local stock market to reach P186 billion in 2025, exceeding earlier forecasts, despite persistent global economic uncertainties.
The revised target surpasses the initial projection of P120 billion and the P82.4 billion achieved in 2024.
“I’m glad to report, I think we’ll be hitting at least P185 billion in capital raising this year, and hopefully more, if there are more applications we receive in the third and fourth quarter,” PSE president and chief executive officer Ramon Monzon said during a virtual press briefing on Saturday.
For the first half of the year, P62.6 billion in capital was raised from one initial public offering (IPO), two follow-on offerings (FOOs) and six private placements.
The PSE expects an additional P123.7 billion in capital raising in the second half of the year, based on submitted applications. These include two IPOs, two FOOs, one stock rights offering (SRO) and one listing of convertible warrants.
Monzon acknowledged that global uncertainties continued to weigh on investor sentiment, citing “the Trump tariff issue, the Middle East situation, the Israel-Iran conflict that could potentially threaten global oil supply.”
“But locally, our listed companies have very consistent and exceptional earnings,” he said.
Among the significant applications filed with the PSE are Maynilad Water Services Inc.’s P45-billion IPO and casino operator Hann Holdings Inc.’s P13-billion IPO. Maynilad postponed its IPO to October, while Hann Resorts’ filing is still under review.
Other planned offerings include Filinvest Development Corp. aiming to raise P8 billion from preferred shares, ACEN Corp. planning to raise P30 billion from a stock rights offering and Alliance Global Group Inc. intending to list P26.7 billion worth of warrants.
PSE shareholders re-elected Jose Pardo as chairman and Ramon Monzon as president and chief executive.
“The fresh mandate given to the PSE Board will ensure continuity in the reforms and initiatives we have started pursuing to attract more listings and introduce new products and services that will enhance liquidity in the capital market,” Pardo said.
Other re-elected independent directors include retired Chief Justice Teresita Leonardo-De Castro, Peter Favila, Andrew Jerome Gan and L. Panlilio.
Broker directors Diosdado Arroyo, Eddie Gobing, M. Te, L. Sy and Ma. Vivian Yuchengco were also re-elected.
Sectoral directors Marilyn Victorio-Aquino (representing issuers), Ferdinand Constantino and Jose Arnulfo Veloso (representing investors), and Edgardo Lacson (representing other market participants) were given new terms.
