Seven companies line up IPOs in Philippines to raise over $3b this year

A trader takes orders on a telephone at the Philippine Stock Exchange. Source: Reuters

The Philippines is all set to witness traction on the bourse with a slew of companies looking to make their public market debut this year.

As many as seven initial public offerings (IPOs), including that of real estate investment trusts (REITs), are lined up to launch on the Philippine Stock Exchange (PSE) before 2021 ends. Together, they could raise a record amount of over $3.3 billion, surpassing the total of $2.7 billion raised in the archipelago from 2016 to 2020.

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