8 IPOs likely to happen this year – BDO Capital

The Philippine Stock Exchange (PSE) is likely to host at least twice the number of companies going for an initial public offering (IPO) this year, given the economic conditions, BDO Capital & Investment Corp. President Eduardo V. Francisco said Tuesday.

“Very possible because for May, June lang there are possibly around four or five (IPOs) already. So three more, that’s easy,” he told GMA News Online on the sidelines of the Management Association of the Philippines (MAP) general membership meeting in Makati City.

PSE President and Chief Executive Officer Hans Sicat said the exchange wants to double the number of IPOs, from four in 2016, given the optimism shown by investors this year.

“I’m doing two of those, and then I’m working on a couple more,” Francisco said.

BDO Capital is involved in the P7.9-billion Wilcon Depot Inc. IPO, and the P3.8-billion Cebu Landmasters Inc. IPO in May.

“It’s just a question of timing, and as long as there are no major problems in the world ... I say the world, kasi kung domestic lang we’re very much in control. But if there are no major problems,  these IPOs will proceed,” he said.

BDO Capital is involved with companies from several industries, he said. “We’re working with several from real estate, to trading, to some conglomerates so there are many industries looking.”

Other companies which have signified going for an IPO include Pure Energy Holdings Corp. (P1.58 billion), (P7.92 billion), Xeleb Technologies Inc. (P751.8 million) and Audiowav Media Inc. (P2.66 billion).

Also planning to undertake IPOs are TVI Resource Development (Philippines) Inc. (P1.66 billion), Pointwest Technologies Corp. (P2.21 billion), and Green Power Panay Philippines Inc. (P222.8 million). — VDS, GMA News