The Philippine Stock Exchange, Inc. (PSE) has recently approved the initial public offering (IPO) applications of real estate developer Italpinas Development Corporation, and construction firms Datem, Inc. and D.M. Wenceslao & Associates, Incorporated.
The three companies will be joining the roster of IPOs in 2015, following Crown Asia Chemicals Corporation and SBS Philippines Corporation which listed in April and August, respectively.
“We are pleased that three more companies are set to be listed on the Exchange before the year ends, bringing us around the P200 billion capital raising level this year,” said PSE President and CEO Hans B. Sicat.
Based on the offering memorandum, Italpinas will be the first among the three companies to make a stock market debut. The sustainable property developer intends to raise as much as P242.18 million from its maiden offering, which will run this November.
Meanwhile, Datem and D.M. Wenceslao plan to raise up to P4.65 billion and as much as P18.88 billion, respectively, from their IPO listing set in December.
Datem and D.M. Wenceslao will be listed on the Main Board of the Exchange, while Italpinas will be the third to list on the SME Board of the PSE since 2014.
“We believe this series of offerings should be welcome news to investors and the capital market in general. This signals the ability of the Philippine market to offer a wide range of transactions even amidst some financial volatility in other parts of the world. We hope this will encourage more potential issuers to tap the stock market for their funding requirements,” Mr. Sicat added.
The listing timeline of these companies can be found at the PSE EDGE website and detailed information such as the prospectuses will also be made available in accordance with their listing timeline. “We encourage all investors to go through the information statements carefully to help them in their investment decisions, “Mr. Sicat said. – BusinessNewsAsia.com