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“In general, the IPOs will depend on market conditions. If we see the market to continue to gain strength, then we can expect more IPOs,” COL Financial Group, Inc. First Vice-President April Lynn C. Lee-Tan said in a Viber message. Meanwhile, Mr. Temporal said he expects more maiden listings by the second half of this year, with companies that deferred listing last year seen pushing through this year.
Mr. Temporal said that the return of foreign inflows and the improvement in the market’s liquidity in recent weeks are likely to entice more companies to go public. According to Upson, the gross primary proceeds of around P4.34 billion will be used to fund the expansion of its store network.
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