More firms back PSE steps to revive interest in stocks

More companies have joined in the efforts of the Philippine Stock Exchange (PSE) to revive the interest of the investing public in the local equities market, signifying their commitment to participate in the upcoming roadshow both here and abroad, PSE president Ernest Leung said.

The event, the first to be undertaken by the PSE on its own, will be held on Sept. 16 at The Peninsula Manila and will re-introduce the PSE – now converted into a demutualized or stock corporation – companies where investors bet their money on.

Prior to the domestic roadshow, there will be two earlier presentations on the Philippine equities market in Hong Kong on Sept. 9 and in Singapore on Sept. 10, sponsored by Credit Lyonnais Securities Phils. and Deutsche Regis Partners Inc., respectively.

Aside from the launching of the "New Exchange," the roadshow will also feature corporate presentations of selected companies listed in the Exchange, with SM Prime Holdings and Jollibee Foods Corp. joining other index heavyweights San Miguel Corp., PLDT, the Ayala Group and SM Prime holdings.

"The event will be highlighted by a presentation of a framework for the revitalization of the Exchange for mobilizing capital and broadening opportunities for the investing public to share in the wealth creation process," Leung said.

This framework will be presented to President Arroyo, who has agreed to grace the event, along with other senior government officials and regulatory authorities.

Leung added a "reform agenda" and "action programs," including the adoption of the Code of Corporate Governance and the brokers’ Code of Ethics, will also be presented during the event.

Aside from the trading participants, some 500 more attendees are expected from the business and finance sectors, academe, government as well as overseas Filipino workers (OFWs).