Philippines' stock market to see record IPOs

The number of initial public offerings at the Philippine Stock Exchange is expected to rise to a new record this year, with a value of at least 150 billion pesos $2.7 billion bourse President Ramon Monzon said in a virtual briefing.

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According to Monson, the guidance is based on existing IPOs and share sales that have already taken place, including eight in the first half of the year that raised a total of 76.17 billion pesos. If companies indicated interest submit applications, the value of the offerings could reach 200 billion pesos, he said.

Monzon said that the capital raised will not match the record 234.48 billion pesos last year, when just two share sales brought in a total of almost 70 billion pesos.

The bourse will hold off until rules and regulations are established, because it has the ability to protect and educate investors.

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