PSE nets P919M in 2021

Local bourse operator Philippine Stock Exchange Inc. (PSE) posted a new record-high bottom line in 2021 on the back of strong capital raising activities in the stock market.

In a statement, the PSE reported a net income of P919.48 million, up 40% from P656.81 million posted in 2020.

The local bourse operator’s earnings last year also surpassed the previous high of P867.55 million seen in 2014.

The PSE also booked P1.65 billion in operating revenues, up 25.3% year-on-year.

The company said its operating revenues sources all posted double-digit gains in 2021 versus the prior year.

In particular, listing-related fees rose by 28.3% “boosted by the largest initial public offering (IPO) in PSE’s history as well as seven other IPOs, 11 follow-on offerings, four stock rights offerings, and seven private placements, among others,” it said.

The PSE’s trading-related fees also grew by 15.2% while service fees grew by 26.1%.

PSE president Ramon Monzon said that “2021 proved to be a record year for capital raising, in terms of number of offerings and amount raised.”

“There have been five IPOs, four private placements so far this year, so we hope to see the same number of public offerings. We may not be able to match the record amount raised last year though, since Monde Nissin’s IPO alone raised a record P55.89 billion in capital,” said Monzon.

“Daily average value turnover in the first quarter of 2022 was at P8.13 billion, down by 9.7% year to date, due to uncertainties caused by inflation and geopolitical concerns. We hope these concerns will be resolved soon so that funds can flow back into the equities market,“ added the PSE chief. — RSJ, GMA News