Friday, January 05, 2007 PSE offerings hit 12-yr high
THE Philippine Stock Exchange (PSE) raised P57.22 billion in capital through stock offerings last year, up 10.7 percent from the P51.7 billion offering proceeds in 2005.
Francis Lim, PSE president and chief executive officer, said the stock market closed 2006 with the biggest amount of capital raised since 1994, when the PSE was granted a license to operate as a stock exchange.
The bulk of the new equity amounted to P29.7 billion and were from six companies.
“The favorable repercussions to the economy once again underscore the importance of keeping our stock market vibrant and attractive to investors,” he added.
“We are facing an election year, but I am sure our political leaders understand that the market can sustain its growth in 2007 and in the coming years, only if we can keep in place correct, sober and predictable political and economic policies,” Lim also said. (PR)
