Record capital raised in 1st half

The Philippine Stock Exchange (PSE) reported that capital raised at the bourse was at a record high of R150.01 billion in the first half of 2018.

The amount raised in the first six months was 40.5 percent higher than the R106.74 billion recorded in the same period last year.

The capital raising activities from January to June 2018 consisted of stock rights offerings by PetroEnergy Resources Corporation, Robinsons Land Corporation, Integrated MicroElectronics, Inc., The Philippine Stock Exchange, Inc., Metropolitan Bank & Trust Company, and Bank of the Philippine Islands.

It also includes the initial public offering of D.M. Wenceslao and Associates, Incorporated. There were also private placements in IRC Properties, Inc., China Banking Corporation, Basic Energy Corporation, and Golden Bria Holdings, Inc.

“Market volatilities did not hamper the expansion plans of our listed companies. This is an indicator that they are set on completing their business initiatives amidst a robust domestic economy,” said PSE President and CEO Ramon S. Monzon.

He added that, “the Exchange is pleased to be a conduit in the growth of listed companies by serving as a venue for capital raising. We are also delighted to have already reached 75 percent of our target capital raising amount for the year.”

More fund-raising activities are expected to be completed in the next two months via followon offerings and stock rights offering.