The Philippine Stock Exchange Inc. (PSE), the country’s bourse operator, announced Friday that it has set a new record for capital raised in the stock market at P234.48 billion in 2021.
The capital raised this year broke the previous record-high of P228.33 billion in 2012, “on the back of the biggest initial public offering (IPO) in the history of the Exchange and REIT listings.”
In October, Megaworld Corp.-backed MREIT Inc. raised as much as P27.3 billion, marking the largest real estate investment trust (REIT) IPO to date.
An REIT is a stock corporation established principally for the purpose of owning income-generating real estate assets such as apartment buildings, office buildings, medical facilities, hospitals, hotels, resorts, highways, warehouses, shopping centers, railroads, among others.
The PSE said that for 2021 it has eight IPOs, 11 follow-on offerings, four stock rights offerings, and eight private placements.
“We are pleased that more companies chose to raise funds through the PSE. Their confidence in the stock market made it possible for us to achieve this record capital raising number,” said PSE president and CEO Ramon Monzon.
On the last trading day of the year, the PSE index (PSEi) closed at 7,122.63 points, down by 211.93 points or 2.9%.
“Philippine shares closed in the red, reversing previous gains after fresh economic data indicated a recent uptick in COVID-19 infections might put the economy’s recovery in jeopardy. The entire country will remain under Alert Level 2 despite the uptick in COVID-19 cases and concerns over the Omicron variant, Malacañang announced,” Regina Capital head of sales Luis Limlingan said in a market commentary.
Year to date, the PSEi dipped by 0.2%.
The All Shares index, on the other hand, shed 10.6% year-to-date, closing at 3,818.12 points.
Daily average value turnover for the year was at P9.00 billion, up by 22.5% from 2020’s P7.35 billion average.
Foreign investors were net sellers by P2.32 billion, narrower than last year’s P128.57 billion net foreign selling.
Foreigners were also responsible for 36.1% of the trading value turnover, while the rest were accounted for by their local counterparts.
A surge in retail investor participation was also logged in 2021 at 31.1%, from 18.2% in 2019 and 26.9% in 2020.
“The active participation of local retail investors will likely continue to next year especially as we expect the upcoming IPOs to attract new investors. While this is a much welcome development, we also hope to see the gradual return of foreign funds to the Philippine stock market,” Monzon said.
The PSE said it will open 2022 with the back-to-back IPO of Haus Talk, Inc. and Figaro Coffee Group, Inc.
“The Exchange is also hosting its first-ever Investment Expo on January 29 and 30, 2022,” it said. — VBL, GMA News
PSE: Record-breaking P234 billion in capital raised in 2021
Source: News Panda Philippines
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