The Philippine Stock Exchange, Inc. (PSE) formally opened its Events Hall on Monday, May 29, 2023. House Speaker Ferdinand Martin G. Romuladez, Department of Finance (DOF) Secretary Benjamin E. Diokno, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla, and Securities and Exchange Commission (SEC) Chairperson Emilio B. Aquino, together with Directors and Officers of the Exchange and Ayala Corporation (AC), led the ribbon cutting and market data wall unveiling activities during the inauguration.
“I believe that the presence here this morning of the Speaker of the House of Representatives, the Secretary of Finance, the Bangko Sentral Governor and the Securities and Exchange Commission Chairman signals their confidence in the country’s economic recovery and bright prospects, not to mention their strong commitment and support for the development of the Philippine capital market”, said PSE President and CEO Ramon S. Monzon in his welcome remarks.
Mr. Monzon added, “I believe that we are one in our desire to see the local capital market catch up with its peers in the region. We all understand the urgent need for new products and proactive regulations to improve liquidity in the stock market.”
The Exchange’s Events Hall will serve as the venue for initial public offering, follow-on offering (FOO), stock rights offering (SRO) listing ceremonies as well as other PSE and capital market-related celebrations. It occupies the area where the trading floor used to be located.
According to BSP Governor Felipe M. Medalla, “The former trading floor creates space for an events hall in stealth, symbolic of technological change. We need less space now for a lot of things that used to require a lot of space.”
In his message, House Speaker Ferdinand Martin G. Romuladez said, “Today’s event is a testament of the agility and the resilience of the Exchange to adapt quickly, to see and seize the opportunities in our ever-changing state of affairs.”
On the domestic capital market, DOF Secretary Benjamin E. Diokno stated, “There’s much work left to be done to further deepen our capital markets and solidify the Philippine stock market as a platform for equity financing and long-term growth. Rest assured that the Philippine government is committed to cementing our place as one of the most dynamic emerging markets in the region.”
For his part, SEC Chairperson Emilio B. Aquino said, “We affirm PSE’s dedication to its goal of leading the way in strengthening the capital market sector. This is a testament to our common commitment to promote an atmosphere that fosters growth innovation and collaboration within the ecosystem of the financial market.”
The formal opening of the PSE Events Hall coincided with the listing of AC’s reissued Class A preferred shares from its treasury. The follow-on shares were listed under the trading symbol ACPAR.
Mr. Monzon mentioned that the inauguration of the events hall was deliberately held on the same day as the preferred shares listing of AC. He cited that the holding firm is considered a pillar in the stock market as it has a total of 12 listed companies, including subsidiaries and affiliates. Of the 12 companies, five are part of the 30-member PSE index.
He also cited that AC’s legacy, vision, and thrust always inspire trust among investors. “Investors derive confidence in the leadership of the company and how its management carries out its direction and strategy.”
