PSE net profit increases 43.7% following pandemic fundraiser – Manila Bulletin


The Philippine Stock Exchange (PSE) reported that its net profit rose 43.7% to 541.53 million pesos in the first three quarters of 2021, from 376.84 million pesos in the same period. last year thanks to higher operating revenues.

In a disclosure, the exchange said its listing fees, transaction fees and service fees all posted gains in the first nine months of 2021.

That brought PSE’s operating income to 1.10 billion pesos, up 23.9% year-on-year. Total spending, on the other hand, grew 11.1 percent slower to 514.81 million pesos.

“The capital requirements for post-pandemic business activities have boosted listing activity this year. In fact, we expect a few more public offerings in the last few weeks of the year, ”said PSE President and CEO Ramon S. Monzon.

The capital raised through the sale of primary and secondary shares amounted to 161.41 billion pesos for the first nine months of 2021.

PES President Ramon S. Monzon

Fundraising activities during the period included four initial public offerings, three follow-up offers, three stock rights offers and six private placements.

Average daily turnover was 8.43 billion pesos at the end of September, with foreign funds as net sellers amounting to 86.77 billion pesos.

“Trading activity has been sustained with the increased participation of retail investors in the market. We see this momentum continuing, as most investors anticipate a year-end rally now that the PSE index has tested the 7,400 level, ”said Monzon.

He added that “even though domestic retail investors have taken over from the lack of foreign funds, we still hope that these foreign institutional investors will return to our market soon.”


SUBSCRIBE TO THE DAILY NEWSLETTER

CLICK HERE TO JOIN


Source link

Previous The United States was not prepared for a pandemic: Free market capitalism, deregulation could be to blame
Next VSA Capital Market Movers - PYX Resources