Insider Spotlight
Fintech, data centers and businesses riding the artificial intelligence boom are emerging as potential additions to a market long dominated by property, banking, consumer and industrial groups, even as some of its biggest traditional names head for the exit.
A new wave
GCash operator Mynt is pursuing an initial public offering that could be the largest on the PSE, while VITRO Inc. is readying a real estate investment trust with a portfolio of data center assets controlled by PLDT Inc.
Mynt would bring the PSE its first pure fintech and digital lending play, while VITRO would give investors exposure to the country’s growing data center sector.
Moreover, these IPOs offer a glimpse of how the PSE could evolve, with the next generation of public companies looking increasingly different from the corporate giants that built the market over previous decades.
Opening the door
“The Philippine Stock Exchange (PSE) is updating its listing rules to attract more digital, fintech and AI firms to tap the equities market,” said PSE president Ramon Monzon said in an email.
“That is why we are easing our sponsor model listing rules,” he added.
Under the Sponsor Model, younger companies that may not yet meet the PSE’s usual profit or financial track-record requirements can still list if they are backed and vetted by an accredited sponsor.
Making room for growth
“This regulatory shift aims to lower barriers for companies in the high-growth technology sectors to enable them to launch an initial public offering with just the backing of a certified sponsor, bypassing several standard profitability and capitalization requirements that typically restrict early-stage tech companies from listing,” the bourse chief said.
This comes as more traditional names, including Robinsons Retail Holdings, Asian Terminals and Metro Pacific Investments, have left the market after valuations disappointed.
Monzon described the delisting trend as “very worrisome,” particularly for a market that already has one of the smallest pools of listed companies in the region.
How the PSE stacks up
Still, measured against the size of each exchange, the PSE’s delisting rate remains relatively low:
2025
As of July 2026
(Indonesia includes 18 companies with delisting effectivity on Nov. 10, 2026.)
Smallest roster
The comparison also highlights the PSE’s challenge: its 280 listed companies make it the smallest of the five markets, giving it less room to lose companies even with a relatively low delisting rate.
With fewer companies to work with, the PSE is also putting more effort into keeping its existing roster healthy and attractive to investors.
Keeping companies invested
“To sustain long-term market health and transparency, the Exchange is actively working with its current roster of public companies,” Monzon said.
“The PSE has stepped up engagements in investor relations and sustainability frameworks to help listed firms boost transparency and drive long-term value for investors,” he added.
The challenge now is to manage that changing mix, keeping established companies invested in being public while opening the door to the next generation of Philippine businesses.
—Edited by Miguel R. Camus
