The Philippine Stock Exchange (PSE) has revised upward its 2024 capital raising target to ₱185 billion, reflecting strong market momentum and sustained corporate interest in equity financing.
PSE president Ramon S. Monzon announced the recalibrated goal during the exchange’s annual stockholders’ meeting, up from the initial ₱120 billion set at the start of the year and ₱170 billion in May. “We’re confident we’ll hit at least ₱180 billion, possibly more, depending on additional applications in Q3 and Q4,” Monzon said.
This strategic upgrade underscores the PSE’s pivotal role in capital formation amid global and domestic economic headwinds. Despite geopolitical tensions and external volatility, Monzon emphasized that listed firms’ earnings remain “very consistent and very exceptional.”
As of July, ₱62.6 billion has already been raised via one IPO, two follow-on offerings, and six private placements. For the rest of the year, ₱123.7 billion in additional capital is expected from two IPOs, two follow-ons, a stock rights offering, and a convertible warrants listing.
Major upcoming issuances include Maynilad Water Services Inc.’s IPO (₱122.8 billion) and Hann Holdings Inc. (₱13 billion), with follow-ons from Ayala Corp., Steniel Manufacturing, and Alliance Global, plus a stock rights offer from ACEN Corp.
In the fixed income market, the PSE also facilitated ₱73.2 billion in new bond listings via its controlled unit, the Philippine Dealing and Exchange Corp., including deals from SM Prime, DoubleDragon, and Cebu Landmasters.
