28 October 2024, Manila – The UK government’s MOBILIST programme co-hosted a flagship investment forum and a capital reform dialogue with the Philippine Stock Exchange this week.
MOBILIST is supporting the Philippines in fostering a robust and resilient capital market to advance inclusive economic growth and sustainable development.
The Philippine Stock Exchange and MOBILIST hosted events to bolster the Philippines’ capital markets, attract foreign investment, and support sustainable development through public offerings.
The Road to IPO 2024 Forum on 22 October, an annual flagship PSE event, offered businesses invaluable insights from industry leaders and market experts on navigating the path to a successful Initial Public Offering. The event was held in collaboration with the Securities and Exchange Commission and co-hosted by the UK government through MOBILIST.
On 23 October, the Philippine Capital Market Policy Dialogue brought together stakeholders from the Philippine government, regulatory bodies, and the private sector to discuss crucial policy reforms aimed at strengthening the financial sector. The dialogue explored legislative efforts, including the Capital Market Reform Act, which seeks to enhance financial inclusion and attract wider participation in the Philippine stock market.
The events come after MOBILIST made a significant $12.5 million investment in the Initial Public Offering of Citicore Renewable Energy Corporation on the PSE in June this year. MOBILIST established a partnership with the PSE in 2023 to ensure greater investment in sustainable development in the Philippines via products listed on the exchange.
The UK’s continued partnership with the PSE aims to unlock new opportunities for companies and investors, enhance market transparency, and accelerate the Philippines’ journey toward financial inclusion and long-term investment competitiveness. As the Philippines continues to evolve as a key player in the global investment landscape, these collaborative efforts will play a crucial role in shaping a more dynamic and sustainable capital market for the future. The ongoing dialogue and shared vision between the UK and the Philippines set the stage for long-term growth, innovation, and mutual prosperity.
His Majesty’s Ambassador to the Philippines, Laure Beaufils, said:
I am delighted that the UK is partnering with the Philippine Stock Exchange to deepen the domestic capital market and promote more sustainable and inclusive economic development. Supported by the Philippine government’s policy reform initiative, MOBILIST’s collaboration with the PSE is helping to promote wider domestic stock market participation while attracting more foreign investments to key sectors, including those driving the clean energy transition.
Ross Ferguson, who leads the MOBILIST programme at the UK Foreign Commonwealth and Development Office, said:
MOBILIST is proud to continue our partnership with the PSE to support the Philippines in mobilising greater investment toward the country’s sustainable development and climate transition. This includes our investment in CREC, as well as MOBILIST’s support to bring together capital market participants, policymakers, and regulators to foster dialogue and collaboration to create a conducive environment for investing in the SDGs via public markets.
Ramon S. Monzon, President and Chief Executive Officer at PSE, says:
The prevailing market environment serves as an ideal backdrop for discussions to spur IPO listings and policies aimed at making the Philippine capital market more competitive. We are grateful to MOBILIST for co-hosting these back-to-back events with PSE and we hope to have more collaborative endeavors in the future. We are also looking forward to more MOBILIST-supported companies going public in the near future.
As the Philippines continues to evolve as a key player in the global investment landscape, these collaborative efforts will play a crucial role in shaping a more dynamic and sustainable capital market for the future. The ongoing dialogue and shared vision between the UK and the Philippines set the stage for long-term growth, innovation, and mutual prosperity.
ENDS
About the Foreign Commonwealth & Development Office
The Foreign, Commonwealth & Development Office (FCDO) pursues the UK’s national interests and projects the UK as a force for good in the world. We promote the interests of British citizens, safeguard the UK’s security, defend our values, reduce poverty and tackle global challenges with our international partners.
https://www.gov.uk/government/organisations/foreign-commonwealth-development-office
About MOBILIST
A flagship UK government programme, MOBILIST supports investment solutions that help deliver the climate transition and the United Nation’s Global Goals in developing economies. MOBILIST focuses on mobilising institutional capital to spur new scalable and replicable financial products. MOBILIST invests capital, delivers technical assistance, conducts research and builds partnerships to catalyse investment in new listed products.
www.mobilistglobal.com
Research Note: Philippines renewables IPO demonstrates maturing markets for energy transition in EMDES
For media enquiries, please contact:
Mari Blumenthal, MOBILIST
mblumenthal@mobilistglobal.com
Cherrie Nuez, British Embassy Manila
Cherrie.Nuez@fcdo.gov.uk
Fristine Chua, Philippine Stock Exchange
flchua@pse.com.ph
