Subscribing to IPOs can now be done via smartphones
MANILA, Philippines –The Philippine Stock Exchange (PSE) launched a mobile application for its initial public offering (IPO) subscription platform, making it easier for regular investors to get into maiden offerings.
The PSE said on Monday, November 18, that the PSE Electronic Allocation System (PSE EASy) can now be downloaded through Google Play for Android users. The mobile app for iOS users will be available soon in the Apple Store.
"We are pleased to provide investors a more accessible way to subscribe to IPOs. After a one-time registration on the PSE EASy website, LSIs (local small investors) can use the app to subscribe to shares whenever there is an IPO," said PSE President Ramon Monzon.
Prior to this year, investors had to go to Metro Manila and access LSI kiosks to subscribe to shares of companies holding IPOs.
The PSE launched PSE EASy just last June to increase participation in IPOs.
"For now, the website and app are for subscription purposes of IPOs only. We hope to maximize this digital solution to incorporate a payment facility and to utilize the platform for other types of offerings," Monzon said.
The PSE EASy mobile app may already be used for LSI subscriptions during the IPO of food and beverage kiosk operator Fruitas Holdings, which started Monday. – Rappler.com