PSE eyes at least 5 IPOs by next year
Philippine Stock Exchange CEO Ramon Monzon said the PSE is eyeing at least five IPOs by 2027, with two potentially underway in 2026. These include Mynt Inc. (GCash) targeting a Q4 main-board IPO at up to P10/share to raise up to P92.3B, and PLDT’s VITRO Inc. seeking P24.2B for a REIT listing. PSE also expects preferred-share fundraising.
How this was made
The 30-second read
Why it matters
The most actionable elements are (1) Mynt’s submitted registration statement and Q4 IPO target with offer-price/proceeds range, (2) PLDT’s application to list VITRO as a REIT with a stated fundraising target, and (3) the near-term milestone for a San Miguel–Metro Pacific tollways merger that could lead to a joint venture listing.
Market read
Provides concrete IPO pipeline details (filing status, timing targets, and fundraising amounts) plus a near-term corporate-action milestone (Q3 signing target) that can affect expectations for Philippine listings.
What to watch
The article doesn’t specify whether proceeds accrue to parent shareholders vs. the unit, nor does it provide valuation/ownership structure for the tollway merger—key drivers of any re-rating.
Background
PSE CEO Ramon Monzon discusses expected IPO cadence (at least five by next year) and names two potentially underway IPOs plus a possible tollway merger listing.
Ticker impact
PSE CEO says talks to merge San Miguel and Metro Pacific tollways are nearing completion, with a potential joint venture listing in the PSE.
If deal talks firm up, could drive upside expectations for tollway-related value; near-term impact likely speculative.
The article provides a concrete process milestone (targeted Q3 signing) and a plausible listing outcome, but no deal terms or certainty.
Market effects
Could support Philippine capital-markets activity and investor appetite for tech/fintech and infrastructure-linked listings (GCash/Maya momentum; tollway merger optionality).
Primarily Philippines-focused; may influence regional sentiment toward emerging-market IPO pipelines and REIT structures.
Limited direct global spillover, but it signals continued IPO capacity in Southeast Asia’s equity markets.
Counterpoint
These are pipeline statements and “ongoing talks” without deal terms; IPO timing and approvals can slip, so pre-positioning may overreact to uncertainty.
Key entities
- companyMynt Inc. (GCash parent)
Submitted PSE registration statement; proposed IPO targeted for Q4 with up to P10/share and up to P92.3B gross proceeds.
- companyVITRO Inc.
PLDT unit seeking PSE listing as a REIT; application targets up to P24.2B proceeds.
- companySan Miguel Corp.
PSE CEO cites near-completion of talks to merge tollway units; merger targeted to be signed by Q3 with possible listing.
- companyMetro Pacific Tollways Corp.
Named as nearing completion of talks for a tollway merger with San Miguel; potential joint venture listing in the PSE.
- companyPLDT
Submitted application to list VITRO Inc. at the PSE as a REIT.
