CTS Global raises P1.37 billion from IPO

MANILA, Philippines — CTS Global Equity Group Inc. successfully listed on the Philippine Stock Exchange (PSE) yesterday, raising P1.375 billion from an initial public offering of its shares.

The company offered a total of 1.375 billion shares at P1 per share.

CTS Global, chaired by veteran stock market player Edward Lee, listed on the small, medium, and emerging board of the PSE.

Lee also heads online brokerage company COL Financial.

“I am confident that CTS Global will be able to implement its business strategies and increase shareholder value...I am certain that the company will continue to uphold the corporate values of integrity and accountability,” PSE president Ramon Monzon said during the listing ceremony yesterday.

SEC commissioner Kelvin Lee said CTS Global’s core competencies have been honed in global markets.

“The commission is hopeful that the company’s IPO would help in maintaining and enhancing confidence of the investing public in the Philippine stock market,” the SEC official said.

He said that investors buying and owning shares of the company become shareholders of the company, not investors in the accounts of CTS.

Lawrence Lee, president and CEO of CTS Global, said the organization would continue to uplift the lives of Filipino investors and traders.

Net proceeds from the offering will be used for scaling of CTS’ global trading operations, client account management expansion, and general corporate purposes.

CTS Global engages in the trading of equities as a broker-dealer for the Philippine market, as well as global markets including the US,  China, Hong Kong and Japan.

Formerly Citisecurities Inc., CTS Global was established to engage in the business of equities trading.

In 2019, the company invested in creating its own analytics portal to support the development of traders through ongoing performance analysis.

In 2020, the limitations brought about by the pandemic further accelerated the use of cost-effective, readily available platforms in the market.

The work-from-home arrangement proved to be beneficial to the company as it enabled it to streamline its trader training online thereby significantly improving trader performance, while materially reducing the overhead cost of maintaining a physical trading floor.