The possibility of a public offering hangs in the balance, a target set for this year but far from guaranteed. While ambition drives the plan, uncertainty remains a key factor in the timeline, a delicate dance between aspiration and reality.
A dual listing – simultaneously offering shares on both local and international exchanges – is being considered as a strategic move. This approach isn’t just about raising capital; it’s about bolstering the Philippine stock market and opening investment opportunities to a wider range of Filipinos.
Access to the US equity market represents a significant advantage. The sheer liquidity and sophistication of American investors could lead to more accurate valuations and a stronger, more successful offering, ultimately benefiting the company and its shareholders.
The current ownership structure reveals a diverse group of influential backers. Major stakeholders include prominent Philippine companies PLDT and First Pacific, alongside global investment firms like KKR & Co. and Tencent Holdings, and the International Finance Corp.
Intriguingly, the ownership web extends to media influence. Hastings Holdings, connected to PLDT, holds a controlling interest in the group that owns a major Philippine news publication, adding another layer to the company’s complex network of affiliations.
