The Philippine Stock Exchange (PSEC) expects capital-raising activities to reach P175 billion this year, a 25 percent increase from P140 billion in 2025, supported by high-profile listings and regulatory reforms.
PSE president and chief executive Ramon Monzon told reporters he expects four companies to go public this year.
These include PNB Holdings Inc, which will list by way of introduction, and the much-anticipated initial public offering (IPO) of e-wallet giant GCash.
Monzon said GCash may file its application soon, but noted the company is waiting for proposed amendments to public float requirements to be finalized.
The Securities and Exchange Commission (SEC) plans to reduce the minimum initial public ownership for large companies to 12 percent from 20 percent.
“I think GCash will file soon, maybe not in the first quarter,” Monzon said.
The market outlook remains positive as several brokerage houses forecast a conducive environment for listings.
The benchmark index gained nearly 300 points to reach the 6,348 level on Friday, up from the 6,052.92 close in 2025.
Monzon, however, warned that addressing corruption is essential for the market to sustain its upward momentum.
“The corruption issue has to be resolved. They just have to jail some people as they indicated,” Monzon said.
The exchange chief also said the SEC moves to amend real estate investment trust (REIT) rules would encourage more activity. The changes would allow income-generating assets such as data centers, toll roads and cell towers to qualify for listing.
The PSE is looking at further reforms to allow more companies to tap the domestic capital market.
Only two companies–Top Line Business Development Corp and Maynilad Water Services Inc.—went public last year.
