Capital raising activities at the Philippine Stock Exchange jumped 21 percent in 2015 to P184.60 billion from P153.08 billion in 2014.
The figure represented the proceeds raised by companies from initial public offerings, follow-on offerings and private placements at the stock exchange.
PSE said the 2015 tally was the second highest in the history of the local bourse, but fell below the P200-billion target for the year.
“We expect that the stock market will continue to be a preferred venue for fund-raising activities of both listed companies and privately-owned firms that are considering listing at the exchange,” said PSE president and chief executive Hans Sicat.
PSE said for 2016, it was hoping to see continued capital raising activities and product offerings, which would raise P200 billion.
Sicat earlier said he expected eight to 10 companies to conduct IPOs in 2016.
Seven companies have pending IPO applications, including Datem Inc. (P4.65 billion), DM Wenceslao & Associates Inc. (P12.3 billion), Pointwest Technologies Corp. (P2.09 billion), TVI Resource Development Phils. Inc. (P1.51 billion), Philippine Primark Properties Inc. (P1.2 billion), Gweilo Corp. (P95 million), Philstocks Financial Inc. (P188 million) and Green Power Panay Philippines Inc. (P290 million).
PSE is also working on a request for exemptive relief to acquire additional shares in the Philippine Dealing System Holdings Corp. to be granted by the Securities and Exchange Commission.
PSE said it would continue its corporate governance initiatives, including the PSE Bell Awards. It started working with the Public Private Partnership Center to find ways for the stock market to be a venue to raise capital for PPP projects. The PSE will also continue to conduct its various market education and financial literacy programs.
“We look at 2016 with optimism and we hope market indicators will improve next year. We expect that the country’s solid macro-economic fundamentals will continue to drive stock market growth, aided by election-related and infrastructure spending,” Sicat said.
The PSE index, the 30-company benchmark, ended the year at 6,952.08, down by 3.85 percent from its closing level in 2014.
Four companies conducted IPOs in 2015, including Crown Asia Chemicals Corp., SBS Philippines Corp., Metro Retail Stores Group Inc. and Italpinas Development Corp.
The market’s average daily turnover rose 1.8 percent to P8.96 billion in 2015 from P8.80 billion in 2014.