THE Philippine Stock Exchange (PSE) yesterday said its net income in the first half of 2023 climbed by 11.6 percent year-on-year to P417.51 million on the back of higher investment income.
The bourse, however, said operating revenues were down by 12.9 percent to P740.09 million due to a decline in listing and trading-related fees.
Fund raising from the sale of primary and secondary shares slowed to P36.99 billion, down from P61.92 billion in the same period last year.
The PSE noted, however, that operating costs only increased by five percent from last year’s figures.
PSE president and CEO Ramon Monzon said the capital raising pipeline in the first half was not as robust as expected.
There were only two initial public offerings, two follow-on offerings, three stock rights offerings, and six private placements in the first six months of 2023.
“There are offerings targeted in the next two months and hopefully, there will be additional IPOs before the year ends,” Monzon said.
The PSE added that daily average value turnover slipped by 4.4 percent year-to-date to P6.98 billion. (ABS-CBN News)
