PSE EASy platform now accepts online banking for payment of IPO subscriptions

The PSE [link] announced that it added some new features to the PSE EASy platform that allow Local Small Investors (their words, not mine) to buy IPO and follow-on offering (FOO) shares using an online banking payment system. The PSE said that payments may still be made the old-fashioned way (over-the-counter bank transactions), but that it hopes to “encourage more LSIs to use PSE EASy to buy shares when there are public offerings” by having this new online banking payment feature. The PSE also said that LSIs will also be able to modify their subscriptions to “add, reduce, or cancel the subscribed shares provided that the subscription has not been paid.”

MB bottom-line: Any move that makes it easier for us LSIs to participate is a positive one. I’m especially glad to see the PSE do this as a centralized solution available to all investors, and not something that might work (or not at all) depending on which brokerage you use to access the platform. Now all we have to do is find a company willing to IPO in this interest rate environment and then try not to lose half our money in the process. Out of the 16 IPOs since ALLDY in November 2021, only four are sitting in positive territory (REDC +20%, PREIT +7%, CREIT +12%, and SPNEC +2%) and eight have lost 40% or more of value (UPSON -58%, ALTER -44%, LPC -47%, BALAI -46%, ASLAG -44%, BNCOM -45%, MEDIC -87%, and ALLDY -76%). 

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