CTS Global plans PhP1.4B IPO

CTS Global Equity Group, Inc. (CGEGI) is planning to raise up to PhP1.375 billion from an initial public offering (IPO) in the first quarter of 2022.

CGEGI, established in 1986, is one of the country’s largest global stock brokerages. Besides the Philippine Stock Exchange (PSE), the company is also active in trading in the United States, Hong Kong, and Japan. It is chaired by COL Financial Group, Inc. (COL) founder and veteran stockbroker Edward K. Lee.

The company hopes to use the proceeds from the offer towards further scaling global trading operations, expanding its client accounts management segment, and for general corporate purposes.

The company hopes to conduct its offer period from February 21 to 28, 2022 before a potential March 9 listing date.