Philippine Stock Exchange (PSE) president Hans Sicat said that over 10 companies plan to list in the local market in 2016. However, Sicat said that the listing of these firms would probably happen in the second half of the year as local stock prices are dragged by global market turmoil. Some companies may also want to wait in case the May elections raises political uncertainty.

“We have many applicants but it’s unlikely anyone will price a transaction when it’s highly volatile. They are proceeding. I’d be surprised if they don’t, but not now because market conditions now are simply up and down,” Sicat said in a report.

Sicat also spoke about how the PSE is currently reviewing the estimated value of listings for 2016. He thinks it could be lower because what seemed reasonable in December may not be practical now.

The target amount for PSE’s total listings in 2015 was Php200 billion. However, it amounted to just Php184.6 billion because only four companies listed. These include Italpinas Euroasian Design and Eco-Development Corp. (ITPI), Crown Asia Chemicals Corp., Metro Retail Stores Group and SBS Philippines.

ITPI is an Italian-Filipino real estate development and design firm that uses Eco-Logic™ buildings designed to reduce environmental impact.  Crown Asia Chemicals Corp. manufactures plastic compounds and pipes. Metro Retail Stores Group is a Cebu-based retailer while SBS Philippines specializes in chemical trading.