Small-cap Filipino IPOs pack a punch

Investors seeking access to the Philippines' consumer story may need to punt on smaller IPOs, some of which have recently really packed a punch.

Small-cap Filipino IPOs pack a punch

While the Philippine Stock Exchange logged some hefty equity placements last year, all of the initial public offerings were in the small- to mid-cap space. There were a total of five IPOs during 2014 with an average size of just $63 million.

Foreign investors don’t usually play in this end of the market and most of the deals in 2014 were marketed and allocated solely to domestic buyers. Only SSI Group, a high-end retailer,...

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