THE Philippine Stock Exchange Inc. on Wednesday said it signed a memorandum of understanding with Aboitiz-led Union Bank of the Philippines to undertake projects related to capital market development.
The said agreement covers awareness initiatives specific to listing at the Exchange such as providing seminars and consultations on doing an initial public offering to corporates and small and medium enterprises under Union Bank.
“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 [Listing Engagement and Assistance Program] and some of the names are likely ripe for an IPO,” PSE president and CEO Ramon S. Monzon said.
Under the deal, Union Bank will also help introduce companies that may be potential PSE LEAP, or listing engagement and assistance program, participants to the bourse. The PSE will also conduct investing in the stock market learning sessions to the said companies.
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.
Early this month, PSE LEAP companies that were IPO-ready attended the maiden masterclass with capital market regulators and a publicly listed company.
Aside from projects for PSE LEAP companies, the bourse also holds regular corporate connect meetings, in partnership with select financial advisors and business organizations to raise awareness and establish interest in fund raising through the stock market.
Another avenue tapped by the PSE to reach out to potential listing applicants is the Roadshow on Capital Formation for MSMEs by the Securities and Exchange Commission. PSE took part in the Davao and Cebu editions of the roadshow held on February 15 and March 17, respectively. The PSE will also join the Cagayan de Oro run of the said activity in April to discuss capital raising through the equities market and introduce CDO-based entrepreneurs to PSE LEAP.
