MANILA, Philippines — The Philippine Stock Exchange (PSE) will gather some of the country’s biggest listed companies for a two-day investors’ briefing as part of efforts to shore up interest in the market and encourage non-public companies to be part of the PSE roster.
ACEN Corp., DMCI Holdings Inc., East West Banking Corp., Ginebra San Miguel Inc., GT Capital Holdings Inc., Haus Talk Inc., Integrated Microelectronics Inc., Italpinas Development Corp., Puregold Price Club Inc. and SM Investments Corp. will headline PSE’s Investor Day, a two-day event wherein they will share their first half financial results, strategic initiatives and growth prospects.
PSE president and CEO Ramon Monzon said the event hopes to share company developments to keep investors updated on the different listed firms.
“We continue to stage this Investor Day to give more PLCs, including those listed on the SME Board, the opportunity to share company developments and outlook for their respective firms to equities market stakeholders,” Monzon said.
The PSE has been shoring up investor interest in the stock market following a challenging two years of the COVID-19 pandemic. It targets to raise P140 billion to P160 billion this year, compared to the P110 billion raised last year.
Among the companies that went public this year are Alternergy Holdings Corp., which made its P1.61-billion market in March, and Upson International Corp., a retailer of personal computers and other tech gadgets, which went public last April 3, raising P1.65 billion.
Another company, Repower Energy Development Corp. (REDC), a subsidiary of Pure Energy Holdings Corp., is targeting to list on July 24 with a target to raise P1.15 billion by offering some 200 million common shares at P5 per piece.
Four companies, meanwhile, are looking to push through with their initial public offerings (IPOs) possibly in the second half of the year, the Securities and Exchange Commission (SEC) said.
The four companies that may push through with their offerings this year are Ovialand, which earlier announced a planned P2.2-billion IPO, and Enrique Razon’s Prime Infrastructure Capital Inc.,which is planning an upsized P33 billion IPO.
SM Prime Holdings Inc.’s planned P55 billion real estate investment trust listing, originally targeted for the second half of 2023, may be moved to next year.