Manila bourse set for IPO spree

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PSE bellThe Philippine Stock Exchange expects 7 to 10 initial public offerings this year, its president Hans Sicat  said at a press conference at the sidelines of the Euromoney Philippines Investment Forum 2013 on March 12 in Manila.

Among the planned listings are Philippine Business Bank, Asia United Bank, investment holding LT Group, the local producer of American soft drink RC Cola, as well as  several companies engaged in mining, real estate and retail.

Sicat said capital to be raised from the IPOs and other share deals in the exchange could reach $5 billion for the year 2013.

The expected IPO spree will surpass last years listing activity by far. In 2012, five companies conducted their IPOs, raising  $600 million from the market.

Sicat said there is still “much room for growth in the stock market”.

“We hope other players and various retirement funds will lend a portion of their stock for market activity,” he added.

Trade volume at the Philippine Stock Exchange grew 33 per cent in 2012, making it the fastest growing bourse in Asia.

 

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Reading Time: 1 minute

The Philippine Stock Exchange expects 7 to 10 initial public offerings this year, its president Hans Sicat  said at a press conference at the sidelines of the Euromoney Philippines Investment Forum 2013 on March 12 in Manila.

Reading Time: 1 minute

PSE bellThe Philippine Stock Exchange expects 7 to 10 initial public offerings this year, its president Hans Sicat  said at a press conference at the sidelines of the Euromoney Philippines Investment Forum 2013 on March 12 in Manila.

Among the planned listings are Philippine Business Bank, Asia United Bank, investment holding LT Group, the local producer of American soft drink RC Cola, as well as  several companies engaged in mining, real estate and retail.

Sicat said capital to be raised from the IPOs and other share deals in the exchange could reach $5 billion for the year 2013.

The expected IPO spree will surpass last years listing activity by far. In 2012, five companies conducted their IPOs, raising  $600 million from the market.

Sicat said there is still “much room for growth in the stock market”.

“We hope other players and various retirement funds will lend a portion of their stock for market activity,” he added.

Trade volume at the Philippine Stock Exchange grew 33 per cent in 2012, making it the fastest growing bourse in Asia.

 

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