PSE raises capital-raising target to P170B

The Philippine Stock Exchange (PSE) has raised its capital-raising target for the year by 42%, upgrading it to P170 billion from an initial goal of P120 billion.

As of May 14, the PSE had already raised P42.42 billion through one IPO, one follow-on offering (FOO), and five private placements, representing 51% of the total raised in 2024.

The PSE is expecting an additional P122.81 billion from upcoming listings such as Maynilad Water Services Inc., ACEN Corp.'s stock rights offer, and FOOs from Ayala Corp., Steniel Manufacturing Corp., and Alliance Global Group Inc.

PSE President Ramon S. Monzon expressed optimism about a 'very successful year' despite market volatility, with the main PSE Index (PSEi) down 1.3% due to global tariff tensions.

GCash remains IPO-ready but has yet to file for its listing, while six companies from the PSE's Listing Engagement Assistance Program are considered IPO-ready within a year.