The Philippine Stock Exchange, Inc. (PSE) reported a 28.9 percent increase in operating income for the first half of 2022 to Php 486.75 million from Php 377.69 million in the same period last year.
Listing-related fees were higher by 12.8 percent to Php 366.51 million. In the first six months of the year, there were eight initial public offerings (IPOs), four private placements, and one stock rights offering that reached Php 61.92 billion in total capital raised from the offer of primary and secondary shares. Trading related fees also grew by 11.9 percent to Php 214.49 million as a result of higher data feed income boosted by index licensing fees. The increase was offset by lower transaction fees following a 16.1 percent decline in total value turnover from January to June to Php 917.35 billion.
Total expenses, meantime, were down by 0.3 percent to Php 362.49 million from Php 363.66 million on reduced general and administrative costs.
In spite of gains in operating income, the company’s net income was lower by 1.0 percent to Php 374.05 million compared to Php 377.98 million, largely on account of a decline in investment income.
“We expect listing-related fees to remain robust since we are expecting at least six more capital raising activities until the end of the year. On the other hand, we hope that the uptick in trading activity since the start of August is an indication that the pace of trading activity will pick up for the remainder of the year,” said PSE President and CEO Ramon S. Monzon.
On August 15, the PSEi closed at the 6,737.84 level, which is 6.7 percent higher than the July 29 closing level of 6,315.93. Average value turnover was at Php 7.26 billion on August 15 from Php 7.18 billion as of end-July.
In September, the PSE is scheduled to host the Road to IPO 2022, an event aimed at business owners who are considering raising funds through the capital market.#
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