MIC eyeing IPO investments to boost PH stock market

The Maharlika Investment Corp. (MIC) is exploring potential investments in initial public offerings (IPOs) to stimulate the Philippine stock market, though these are not an immediate priority.

MIC Vice-President for Investments Kheed Ng stated that conducting sufficient due diligence for IPOs is challenging due to busy management teams.

He noted that MIC might consider IPO investments if they provide primary capital for new facilities or roads.

This year, the Philippine stock market saw only two IPOs: Top Line Business Development Corp. and Maynilad Water Services Inc., falling short of the Philippine Stock Exchange's target.

An investment banker suggested that MIC's involvement could energize the market, and proposed co-investments with other institutions to maximize the fund's impact.