SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – After a series of all-time highs, the Philippine Stock Exchange (PSE) expects the number of firms going public to double in 2013.
PSE President Hans Sicat told reporters on the sidelines of the 2013 Philippines Investment Forum on Tuesday, March 12, that around 7 to 10 companies are eyeing to conduct initial public offerings (IPOs) in 2013.
Sicat said capital to be raised from the IPOs and other share deals in the exchange could reach P200 billion for the year.
In 2012, 5 firms listed at the PSE, raising P23.99 billion. This was a small portion of the total capital of P219.07 billion raised in the local bourse during the year.
Sicat said there is still much room for growth in the stock market, particularly in terms of products. He said there are many products that the PSE would like to offer investors, but there is still “no fundamental basis” to offer these products.
“In terms of where we are right now, there’s a lot of products that we could be introducing here but we can’t because there’s no fundamental basis for doing so. The issue for futures for example, locally, is that the market still doesn’t do stock borrow so you can’t introduce essentially a first step derivative product the market isn’t using yet. This year we’re also hoping that stock borrow is actually used more by the players, you can lead the horse to water but its gotta drink on its own,” Sicat said. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.