PSE launches platform for IPO investors

The Philippine Stock Exchange Inc. (PSE) has introduced a platform that seeks to encourage more investors to participate in initial public offerings (IPOs).

The PSE launched the mobile application of its IPO subscription platform for local small investors (LSIs) called the PSE Electronic Allocation System (PSE EASy).

PSE president Ramon Monzon said the local bourse hopes that with the mobile app, more investors would participate in the market especially with the string of IPOs expected to happen in the coming months.

“We are pleased to provide investors a more accessible way to subscribe to IPOs. After a onetime registration on the PSE EASy website, LSIs can use the app to subscribe to shares whenever there is an IPO,” Monzon said.

The PSE introduced PSE EASy in June 2019 to increase participation in IPOs among LSIs and to expand the reach of the program.

Previously, only investors based in Metro Manila have access to LSI kiosks. The shift to an online platform enabled investors from over 60 provinces and close to 20 countries to subscribe to the IPOs conducted between August and October this year.

Monzon said the PSE hopes to eventually expand the platform’s coverage.

“For now, the website and app are for subscription purposes of IPOs only. We hope to maximize this digital solution to incorporate a payment facility and to utilize the platform for other types of offerings,” Monzon said.

The PSE EASy mobile app may already be used for LSI subscriptions during the IPO of food and beverage kiosk operator, Fruitas Holdings Inc., which starts today, Nov. 18.

Fruitas Holdings Inc. (FHI) will list on Nov. 29. It has priced its IPO at P1.68 per share. The company is offering 533.7 million primary common shares with an over-allotment option of up to 68.3 million outstanding common shares for the IPO. The PSE EASy app may be downloaded through Google Play for Android users. The mobile app for iOS users will soon be available in the Apple Store.

Aside from the PSE EASy mobile app, the local bourse operator continues to find ways to encourage investors to invest in the stock market instead of just putting their funds in investment scams that have been proliferating in the market.

The PSE is also hoping that more companies would list in the market this year joining this year’s roster of market debutants including Kepwealth, AllHome, Axelum and soon-to-list Fruitas.