PSE prods franchisors to list at stock market

MANILA, Philippines — The Philippine Stock Exchange Inc. (PSE) is encouraging franchisors to list on the stock exchange.

In a forum for the Philippine Franchise Association, PSE president Ramon Monzon said many companies that are members of the PFA have raised capital and expanded by going public and are now reaping the benefits of being a member of the Philippine Stock Exchange.

Some of these corporations are Jollibee Foods Corp. Shakey’s Pizza Asia Ventures Inc. and Figaro Coffee Group., which are all publicly-listed companies.

JFC chief finance officer Ysmael Baysa,  president and CEO of Shakey’s Pizza  and Figaro Coffee Group  president and CEO Divina Gracia Cabuloy highlighted the benefits of being able to raise capital to grow their respective businesses.

The forum was organized to introduce the IPO listing process and the benefits and responsibilities of being a publicly listed company (PLC) to the association’s members.

“For us at the PSE, we simply wanted to give you a better grasp of what an initial public offering entails and how companies can benefit from IPO listing from the perspective of PLCs who are also into franchising,” Monzon said.

He said the Filipino entrepreneurial spirit remains vibrant amidst the challenging times as evidenced by the presence of the PFA members in the event.

The PSE said  it is ready to help companies prepare for possible listing in the stock market.

PSE chief operating officer Roel Refran said companies considering to raise capital through IPO may avail of the free Listing Engagement and Assistance Program of the PSE.

The PSE has been stepping up efforts to encourage companies to go public not only to raise capital but to improve corporate governance.

Capital raising at the PSE hit a record P234.48 billion in 2021.

This was on the back of the biggest initial public offering in the history of the stock market, Monde Nissin’s P48.6 billion IPO in June 2021.

The PSE had eight IPOs, 11 follow-on offerings, four stock rights offerings and seven private placements in 2021.