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Companies raise P62B through the stock market in H1

July 01, 2022 - Friday 6:07 PM by GDM

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The Philippine Stock Exchange, Inc. (PSE) had eight initial public offerings (IPO) in the first six months of 2022, the same number of IPOs for the entire of 2021.

Five of the eight companies that conducted IPOs were listed on the Main Board, while three joined the Small, Medium, and Emerging Board, the PSE said in a statement.

Among the listed firms that debuted between January and June were Haus Talk, Inc., Figaro Coffee Group, Inc., Citicore Energy REIT Corp., Bank of Commerce, CTS Global Equity Group, Inc., Raslag Corp., VistaREIT, Inc., and Balai ni Fruitas Inc.

“Given the lineup of maiden offers in the next half of the year, we may see a 26-year high in terms of the number of IPOs in a year,” said PSE President and CEO Ramon S. Monzon.

Meantime, the amount of capital raised from the sale of primary and secondary shares in eight IPOs, one stock rights offering, and four private placements during the first half of 2022 reached P61.92 billion, lower by 49.4 percent year-on-year.

The fundraising amount in the same period last year was P122.46 billion, boosted by the largest IPO in PSE history, which raised P55.89 billion.

 “The record fund raising in 2021 will be difficult to break because of the sizable amount that was generated by the Monde Nissin Corporation IPO,” Monzon said.

“We have a robust pipeline of public offerings in the second half, and if all of these materialize, capital raising may still reach the Php 200 billion mark,” he added.

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