Philippine bourse businesses raise $3.6 billion this year

Despite the volatility of the market, the president of the Philippine stock exchange operator said on Saturday that he anticipates companies will raise a total of 200 billion pesos ($3.6 billion) on the capital markets this year. This projection is based on a robust pipeline of listings and share sales.

In the Philippines, businesses, including those in the renewable energy sector, are moving forward with expansion plans this year in anticipation of an economic rebound following the COVID-19 pandemic.

Ramon Monzon, president and chief executive officer of the Philippine Stock Exchange, told reporters, “At the moment, we are unable to hit the same record we did last year. We are keeping our fingers crossed that we will be able to bring in at least 200 billion pesos.”

Related Posts

Last year, a record 234.5 billion was raised through initial public offerings (IPOs), including the record $1 billion listing of food maker Monde Nissin Corp, and the sale of existing shares. This is more than double the 104 billion pesos in 2020, when IPOs raised a combined total of 104 billion pesos.

According to data provided by the PSE, as of the end of July, corporations had successfully raised a total of 76 billion pesos via the stock market, with six initial public offerings (IPO) and follow-on share sales in the works.

According to Monzon, the Philippine Stock Exchange is keeping a close eye on a potential delay in the sale of shares due to the lackluster volume and performance of the market.

As a result of a depreciating peso and rising prices, the broad index of the Philippines has dropped by 5.9 percent this year, making it the region’s second-worst performer, behind only Vietnam.

Jasmine C.

Mabuhay! An upcoming Newswriter for the Asian Affairs from the Pearl of the Orient - Philippines. Avid follower of celebrity gossips, fashion news. I got into writing so that my fellow Kababayan will be constantly updated with the latest news.

Recent Posts

Box Office Battle: Singham Again and Bhool Bhulaiyaa 3 Set for Epic Diwali Clash

Two big banner movies of Bollywood are preparing for a festive season box office battle as ‘Singham Again’ starring Ajay…

November 1, 2024

Apple Launches MacBook Pro with Revolutionary M4 Chip Family, Starting at ₹1.69 Lakh in India

The new MacBook Pro series takes Apple’s premium laptop offering to the next level, thanks to the new M4 family…

October 31, 2024

North Korea’s New ICBM Launch: An Assertive Display of Strength Amid Global Tensions

With a record-setting intercontinental ballistic missile (ICBM) test, North Korea boldly claimed it as the "world's most powerful strategic deterrent."…

October 31, 2024

Record Snow Delay Leaves Japan’s Mount Fuji Bare in October: Climate Change Alters Iconic Landscape

Late October's bare Mount Fuji, a symbol of resiliency and natural beauty, marks the first time in 130 years that…

October 31, 2024

Understanding Why Children Lie: A Guide for Parents

Children eventually learn to see that others cannot read their thoughts as they negotiate their developmental path. Research on an…

October 31, 2024

Netflix Releases ‘Moments’ Feature to Boost Clip Sharing as Part of New Brand Campaign

With a new tool dubbed "Moments," Netflix is improving users' experience and sharing of their preferred scenes. Although the behemoth…

October 31, 2024

This website uses cookies.

Read More