The Philippine Stock Exchange, Inc. (PSE) hosted a roundtable discussion on the initial public offering (IPO) journey of listed companies to give potential listing applicants a preview of what to expect when preparing to go public.
“We organized this event to help explain the IPO process from the perspective of the issuer. We hope the discussion helped entrepreneurs have a better appreciation and understanding of what happens when companies transition from being privately-owned to publicly listed,” said PSE President and CEO Ramon S. Monzon.
Dubbed Road to IPO, the event drew attendees from close to 200 companies.
“A good number of participants were from small and medium sized companies. We hope to see these businesses list in the PSE especially as we have relaxed the rules for our Small, Medium and Emerging (SME) Board. We also introduced the Sponsor Model so that high growth companies that may not necessarily meet the SME Board criteria can still raise funds through the stock market,” Mr. Monzon explained.
In his keynote message, Department of Finance Secretary Carlos G. Dominguez III said, “The Philippine Stock Exchange is a vital institution. It allows our enterprises to raise capital through public offerings and efficiently allocate funding to businesses. Wider public access to investment opportunities and a broad-based financial system are key conditions for achieving financial inclusion among our people and realizing our goal of inclusive growth.”
Secretary Dominguez also commended PSE for responding to his challenge of making systems more efficient and accessible to issuers and retail investors and to encourage more small companies to go public by relaxing its listing rules.
For his part, Securities and Exchange Commission Chairman Emilio B. Aquino said, “We are committed to actively encourage more IPO listings in our country. It is part of our mission to provide the necessary assistance to achieve this commitment.” Chairman Aquino also cited that issuers have benefitted from SEC’s rules of shelf registration. “We are in continuous discussion with relevant market participants on how shelf registration may further assist businesses in their fund raising activities.”
The roundtable activity featured SM Investments Corporation Chairman Jose T. Sio, Bank of Philippine Islands President and CEO Jose Teodoro K. Limcaoco, Puregold Price Club, Inc. Director and Cosco Capital, Inc. President Leonardo B. Dayao, and Wilcon Depot, Inc. President and CEO Lorraine Belo-Cincochan.
“We are grateful to Secretary Dominguez, Chairman Aquino and guests from listed companies for supporting this initiative to encourage more companies to list at the PSE. We will organize similar activities in the coming months to further help potential listing applicants in their IPO journey,” Mr. Monzon added.
Companies considering listing may avail of the Listing Assistance Program of the PSE. Inquiries may be sent through e-mail at firstname.lastname@example.org.
Photo shows from left, by row: PSE President and CEO Ramon S. Monzon, Department of Finance Secretary Carlos G. Dominguez III and Securities and Exchange Commission Chairman Emilio B. Aquino; SM Investments Corporation Chairman Jose T. Sio, Bank of Philippine Islands President and CEO Jose Teodoro K. Limcaoco, Wilcon Depot, Inc. President and CEO Lorraine Belo-Cincochan and Puregold Price Club, Inc. Director and Cosco Capital, Inc. President Leonardo B. Dayao.#