UNION Bank of the Philippines (UnionBank), UnionBank GlobalLinker and AB Capital and Investment Corp. (AB Capital) have joined forces to promote financial literacy with a focus on financial markets education for Philippine micro, small and medium-sized enterprises (MSMEs).
The partnership, which was formalized in a signing ceremony at UnionBank Plaza in Pasig City on February 8, provides Philippine MSMEs with access to various resources designed to provide them with knowledge on initial public offerings (IPOs) and other listing-related topics.
With the expanded business and growth opportunities, MSMEs can be prepared to grow from medium-sized companies to larger companies.
“We are excited to partner with UnionBank as we share a common goal of promoting financial inclusion. Finally, capital markets should not be the exclusive domain of large corporations, but should be open to all entrepreneurs who meet the criteria “the investing public and regulators,” said Antonio Jose Periquet Jr., executive chairman of AB Capital.
“The idea came when we thought, ‘Why don’t we partner with an investment house and offer something different in terms of stocks, IPO learning, IPO services to our clients who are growing from a mid-sized company to a large company etc.? ?’ And that will differentiate UnionBank’s offerings from those of other traditional banks,” said Jaypee Soliman, head of UnionBank’s SME and micropreneurs segment.
The move is in line with UnionBank’s goal of promoting inclusive prosperity in the country. By highlighting the benefits of an IPO through activities accessible to companies of all sizes, UnionBank helps demystify misconceptions about IPOs and make IPO easier for MSMEs.
On March 1st, a webinar was co-hosted with the Philippine Stock Exchange aimed at “raising MSME awareness of IPO listing as a viable capital raising platform to fuel business growth”.
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