Pointwest puts IPO on hold pending US polls

Concerns on the result of the presidential election in the United States have prompted business process outsourcing (BPO) firm Pointwest Technologies to hold off its planned initial public offering in the Philippines. According to Pointwest president Beng Coronel, the company is in a wait-and-see mode, saying a Donald Trump win could spark an outsourcing backlash. Trump, the Republican presidential nominee, has spoken heavily against outsourcing. Coronel said Pointwest is not turning its back on its IPO plan, but it just wants to be cautious. Originally, the company was meant to have an IPO last year but the unfavorable market prompted the postponement of the plan. Coronel said Pointwest wants to make sure that when it faces the public, it does so in very strong position.