{"id":4210,"date":"2019-10-10T16:44:59","date_gmt":"2019-10-10T09:44:59","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4210"},"modified":"2021-06-04T14:41:04","modified_gmt":"2021-06-04T07:41:04","slug":"philippines-thailand-ipos","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/philippines-thailand-ipos\/","title":{"rendered":"Philippines, Thailand snag the spotlight on IPOs"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Thanks to the growing interest of investors in Southeast Asia<\/span><\/p>\n<figure id=\"attachment_4213\" aria-describedby=\"caption-attachment-4213\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-4213 size-large\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_98873516-1024x768.jpg\" alt=\"Makati\" width=\"640\" height=\"480\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_98873516-1024x768.jpg 1024w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_98873516-300x225.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/10\/shutterstock_98873516-768x576.jpg 768w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-4213\" class=\"wp-caption-text\">Makati City, Philippines. AntonioOquias\/Shutterstock<\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.reuters.com\/article\/us-southeast-asia-ipo\/thailand-philippine-firms-lead-revival-in-southeast-asia-ipos-idUSKBN1WO1DJ\" target=\"_blank\" rel=\"noopener noreferrer\">Reuters<\/a>, Philippine and Thailand companies are taking the lead in the regional upswing of initial public offerings (IPOs), prompting investors to shift their focus on Southeast Asian consumers.<\/p>\n<p>The Philippine home furnishing retailer AllHome Corp acquired USD285 million, while the Thai hospitality and property firm Asset World Corp raised USD1.6 billion.<\/p>\n<p>AllHome is the third company in the Philippines to tap the local market in 2019 and is the largest IPO in the country in 3 years, with shares debuting 1.04 percent higher at PHP11.62 (USD0.2249) on Thursday.<\/p>\n<p>Owned by the Philippines\u2019 richest man Manuel Villar, the home furnishing retailer raised PHP12.937 billion (USD250.4 million). The opportunity to sell USD168.75 million allotment shares could increase the IPO to USD285 million.<\/p>\n<p>AllHome currently operates 27 stores and is set to boost its selling space by the end of 2020.<\/p>\n<p>\u201cThe home improvement industry in the Philippines is underpenetrated so we thought of introducing a retail concept with global standards which eventually complements our expertise as the largest homebuilder in the country,\u201d Villar said in a statement.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/philippines-continues-to-attract-chinese-investors\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Philippines continues to attract Chinese investors<\/strong><\/a><\/p>\n<p>Asset World Corporation, owned by Thai billionaire Charoen Sirivadhanabhakdi, was the largest IPO by a Thai company. Singapore sovereign wealth fund GIC was one of the 13 cornerstone investors who allocated around USD300 million.<\/p>\n<p>Thailand in itself boasts 11 firms who acquired a combined total of USD1.9 billion from January to October 4, according to Refinitiv data.<\/p>\n<p>\u201cWe expect Thailand to be one of the stronger IPO markets in 2020. Some more large IPOs have started preparations this year and are set to list next year,\u201d shared Ho Cheun Hon, head of Southeast Asia equity capital markets at Credit Suisse.<\/p>\n<p>The Credit Suisse Managing Director anticipates that global fund managers will continue to be drawn by the increasing consumption across Southeast Asia.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thanks to the growing interest of investors in Southeast Asia<\/p>\n","protected":false},"author":9,"featured_media":20306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[134,556,127,129,133],"class_list":["post-4210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bangkok","tag-ipos","tag-manila","tag-philippines","tag-thailand","news_country-philippines","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Philippines, Thailand snag the spotlight on IPOs | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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