Connect with us

Hi, what are you looking for?

News

ICCP sees more IPOs from PHL companies

Despite the challenging financial markets amidst the ongoing COVID-19 pandemic and soaring inflation, the Philippines is seeing a resurgence in capital raising by the country’s corporations as the economy primes itself for recovery.

The Philippine Stock Exchange (PSE) reported that companies raised a record P234.48 billion at the stock exchange in 2021, surpassing the previous high of P228.33 billion in 2012. The PSE ended the year with eight initial public offerings (IPOs), 11 follow-on offerings, four stock rights offerings and eight private placements.

In a July interview, PSE President and Chief Executive Officer Ramon S. Monzon said the PSE is again looking forward to a record number of IPOs in 2022. The eight IPOs in the first semester have already matched the same number of offerings for the entire 2021. To support this increasing trend of public issues, the Philippine Stock Exchange has organized the business forum entitled, “Road to IPO 2022,” with the participation of the Securities and Exchange Commission and the Department of Trade & Industry.

The forum is scheduled today, Sept. 15, 2022, from 10:00 a.m. to 5:00 p.m. Prominent speakers include PSE President Ramon S. Monzon and SEC Chairman Emil S. Aquino. One of the investment houses selected to participate in the forum is Investment & Capital Corporation of the Philippines (ICCP), among the oldest Investment houses in the country that offers a full range of investment services from debt capital and equity markets to financial advisory services including mergers & acquisitions. ICCP Managing Director Mariano Ocampo shares IPO readiness tips during the forum entitled, “Road to IPO 2022.”

ICCP has joined the call for more Philippine companies to tap the capital markets to finance and achieve sustainable growth. As one of the most trusted independent investment houses in the country, ICCP has successfully mentored companies in their foray into the local bourse.

In 2021, the company was joint lead underwriter for the P14.7-billion IPO of DDMPR REIT, Inc. and the P15.3-billion stock market debut of MREIT, Inc. ICCP was also the sole underwriter and issue manager for the P1-billion FOO of Apollo Global Capital, Inc. — the first offshore iron ore mining company in the Philippines.

This year, ICCP was the sole underwriter and issue manager for the P750-million offer of Haustalk, Inc. — the country’s first IPO of 2022 and the first small-and-medium enterprise (SME) listing under the new SME Listing Rules of the PSE.

This was followed-up by the P6.4-billion IPO of Citicore Energy REIT Corp. (CREIT), the country’s first energy-focused REIT, where ICCP served as underwriter. The investment house was recently engaged as sole issue coordinator, joint lead underwriter and issue manager for the IPO of Alternergy Holdings Corp. — a renewable energy company with a diversified portfolio of wind, solar & run of river hydro.

“We are happy to be a contributor in revving up this engine of growth for the economy, particularly for renewable energy, agri supply logistics, financial inclusion and climate finance. The IPO is not just for the big corporates but could also be tapped by SMEs, project proponents,” said ICCP President & CEO Valentino S. Bagatsing. “We stand ready to guide more businesses prepare to tap the local equity and debt markets. The capital markets should be utilized as a catalyst for job generating PPPs and be a valuable instrument for funding climate adaptation. We are inspired by the SEC & the PSE for their continued effort of democratizing the capital markets while ensuring transparency & accountable disclosure,” added Mr. Bagatsing.

ICCP believes that IPOs is a viable option to raise capital to fund the expansion businesses and institutionalizing ESG initiatives. Independent investment houses like ICCP have a strong role in structuring innovative ways of assisting corporations navigate the process of tapping the Philippine capital markets.

Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber to get more updates from BusinessWorld: https://bit.ly/3hv6bLA.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.