By Jenniffer B. Austria
The Philippine Stock Exchange Inc. said Wednesday it signed a memorandum of understanding with Union Bank of the Philippines to spur capital raising activities in the local stock market.
Under the MoU, UBP will conduct initiatives such as seminars and consultations on doing an initial public offering to corporate clients and small and medium enterprises to lure more companies to list in the local bourse.
UBP will also help introduce companies that may be potential PSE LEAP (Listing Engagement and Assistance Program) participants to the exchange.
The PSE will help UBP in conducting the seminars and consultations.
“UnionBank is an ideal partner in our program to drum up interest in IPO listing given the pool of companies under its wing. A good number of these corporates are potential candidates for PSE LEAP and some of the names are likely ripe for an IPO,” said PSE president and chief executive Ramon Monzon.
The PSE LEAP is a marketing program offered to interested and potential listing applicants for free. The program provides handholding guidance to clients via one-on-one advisory sessions, access to online pre-listing assessment tools, and assistance in connecting potential clients to seasoned IPO advisors.
More than 40 companies are registered with PSE LEAP, a program focused on assisting interested and potential IPO listing applicants.
Early this month, PSE LEAP companies that were IPO-ready attended the maiden PSE LIST (Learn IPO Strategies and Tactics), a masterclass with capital market regulators and a publicly listed company.
Aside from projects for PSE LEAP companies, the PSE also holds regular meetings, in partnership with select financial advisors and business organizations to raise awareness and establish interest in fund raising through the stock market.
The PSE is also joining the Securities and Exchange Commission roadshow to pitch capital market as potential source of funding for expansion projects.
The PSE expects 14 companies to list in the stock exchange in 2023.