IPO spree seen in H2

MANILA, Philippines - Some of the much-awaited initial public offerings are likely to take place in the second half of the year amid the prevailing volatility in the stock market.

Sources said the planned IPO of Pointwest Technologies Corp. would most likely happen in the third or fourth quarter.

Pointwest hopes to raise P1.1 billion from the maiden offering of its shares to fund its expansion program.

It was supposed to hold its IPO in the latter part of 2015 but had to postpone this due to market volatility.

D.M. Wenceslao, on the other hand, is planning to launch its P4.6 billion  IPO after the Presidential elections upon the advise of its underwriter First Metro Investment Corp.

Filipino snack food giant Monde Nissin, meanwhile,  has yet to announce the new timetable for its P14 billion IPO.

Other IPO hopefuls which are likely to proceed with their listings after the elections are Gweilo Corp. and oil giant Pilipinas Shell Petroleum Corp.

Philippine Stock Exchange president Hans Sicat is hopeful that market conditions would improve in the second semester as the country’s fundamentals remain positive.

The local stock market is expected to remain volatile in the first half given issues on the global front.