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.
Filipino world champion professional boxer Manny Pacquiao in action
Filipino world champion professional boxer Manny Pacquiao in action

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, had a portion of its shares distributed to offshore investors.

“Anything with a market cap of less than $200 million isn’t covered by the foreign brokers,” said Ed Francisco, head of BDO...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222