Philippine bourse eyes six IPOs in 2024

January 2, 2024 - 10:29 AM
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PSE bldg
In this May 10, 2022 photo, the external display of the Philippine Stock Exchange building in Taguig City shows PSEi's closing a day after the 2022 presidential elections. (Philippine Stock Exchange/Released)

 The Philippines is expecting six initial public offerings (IPOs) in 2024 as capital markets may benefit from better economic conditions with an easing of inflation and lower interest rates, the head of Manila’s bourse said.

Philippine Stock Exchange PSE.PS President and CEO Ramon Monzon said capital markets fundraising could reach P175 billion Philippine ($3.16 billion) in 2024, of which 40 billion pesos would be in IPOs.

($1 = 55.3880 Philippine pesos)

— Reporting by Mikhail Flores