The Philippine Stock Exchange (PSE) has unveiled the mobile version of its PSE Electronic Allocation System (PSE EASy) which allows for easy subscription by local small investors (LSI) of initial public offerings (IPO) in the stock market.
After a one-time registration on the PSE EASy website, LSIs can use the app to subscribe to shares whenever there is an IPO.
Ramon Monzon, PSE president, said the website and the app are initially for subscription purposes of IPOs only. A payment facility and other offerings will be included in the platform in the future.
PSE EASy was introduced by the Exchange last June to increase participation in IPOs among LSIs and to expand the reach of the program.
Previously, only investors based in Metro Manila have access to LSI kiosks. The shift to an online platform enabled investors from over 60 provinces and close to 20 countries to subscribe to the IPOs conducted between August and October this year.
The PSE said the EASy mobile app may already be used for LSI subscriptions during the IPO of food and beverage kiosk operator Fruitas Holdings Inc. which starts today, November 18.
“The PSE EASy app may be downloaded through Google Play for Android users. The mobile app for iOS users will soon be available in the Apple Store,” the PSE said.