Philstock subscriber base grows 3-fold

MANILA, Philippines - Local brokerage firm Philstocks Financial Inc., formerly Accord Capital Equities Corp., has recorded phenomenal growth after it launched an online trading platform.

According to the firm, it has tripled its online user base to more than 15,000 as of the end of November from only 5,000 in 2014.

The 220 percent growth makes Philstocks  one of the major contributors in the overall market growth of 65 percent, the local brokerage house said.

The company is gearing up for an initial public offering (IPO) after obtaining the green light from the Securities and Exchange Commission (SEC).

The offering involves 98.888 million shares to be sold at P1.88 per share for a total of P185.8 million

Data from Philstocks showed that with an initial capitalization of P100 million in 2001, this increased to P125 million in 2004 while the company grew its workforce to more than 80 from just four staff and five agents previously.

In 2006, Philstocks launched its online trading platform called Philstocks Live, dubbed as a platform “Made by Traders for Traders.”

The platform paved the way for consistent year on year growth both on retail and traditional client segment sustained by a more enhanced investors’ education program both locally and abroad.

In 2013, as a part of the company’s continuing commitment of strengthening technological advancements and providing cutting-edge online trading solutions to its fast growing customers, Philstocks launched its mobile trading application Philstocks XAVi, which is available to both IOS and Android mobile. It is the first and only SEC approved stock trading mobile app in the Philippines.

Philstocks said its unwavering commitment to service innovation both in technology and customer education on effective trading and wealth building is in line with the vision of the Philippine Stock Exchange and the industry as a whole in bringing the wonderful opportunities of stock market investment to every Filipino home.

Proceeds from the IPO will be used to fund the company’s expansion and general funding requirements.