THE Philippine Stock Exchange, Inc. (PSE) was named Southeast Asia’s “best stock exchange” following “high-profile landmark issues” in its record-breaking year.
In a statement, the PSE said it received recognition at the Marquee Awards of the 15th Annual Best Deal and Solution Awards 2021 of magazine Alpha Southeast Asia.
“This award was made possible by the guidance and support of our Board of Directors and the hard work and dedication of the whole PSE team,” PSE President and Chief Executive Officer Ramon S. Monzon said during the first trading day bell-ringing ceremony on Monday.
“I hope that this recognition will serve as an inspiration to all of us to do even better this year,” he said.
The PSE was recognized after notable issues such as MREIT, Inc.’s $305-million (P15.3 billion) public offering and Monde Nissin Corp.’s P55.8-billion initial public offering (IPO).
Alpha Southeast Asia was quoted saying these are “perfect examples of how best to create shareholder value.”
“With a stronger framework of corporate governance in place led by the PSE and an ongoing push to raise the standards of timely disclosure, PSE is well-positioned among issuers and investors, both local and foreign,” the institutional investment magazine said.
The PSE closed 2021 with eight IPOs, 11 follow-on offerings, four stock rights offerings, and eight private placements.
Capital raising activities at the local bourse totaled P234.48 billion in 2021, breaching the record set in 2012 worth P228.33 billion. The PSE attributed this to the “biggest [IPO] in the history of the exchange,” referring to Monde Nissin’s public offer, and the rise of real estate investment trust listings.
Two companies are expected to go public this month, namely: Haus Talk, Inc. and Figaro Coffee Group, Inc. — Keren Concepcion G. Valmonte