Capital raised at The Philippine Stock Exchange, Inc. was at a record high of P67.04 billion in the first quarter of 2017.
The amount came from an initial public offering and a stock rights offering.
The previous highest amount of capital raised during the first quarter in any given year amounted to P55.90 billion in 2014.
“Our first quarter numbers are off to a good start. They provide strong basis for our target of six to eight IPOs and around P200 billion worth of capital raised this year. We hope that the additional fund raising mechanisms we have worked on in the past months will provide further support to our targets,” said PSE President and Chief Executive Officer Hans B. Sicat.
The PSE rules for the listing of Dollar-Denominated Securities and Public-Private Partnership projects were released in November 2016.
Other stock market metrics were also up at the end of first quarter.
The benchmark PSE index advanced 6.9 percent to 7,311.72 while the All Shares index was higher by 5.9 percent.
All sectoral indices also ended in positive territory.
The Services sector showed the biggest growth as it registered a double digit gain of 19.13 percent. It was followed by the Financials index which rose 10.0 percent.
The Holding Firms and Industrial sectors were up at 6.5 percent and 2.8 percent respectively.
The Property sector for its part rose 1.9 percent while the Mining and Oil sector eked out a gain of 1.0 percent.
Meanwhile, total market capitalization of listed companies increased by 5.9 percent in the three month period to P15.28 trillion.
Daily average value turnover was slightly higher by 0.5 percent to P6.82 billion from P6.78 billion in the first quarter of 2016.
However, there was net foreign selling during the period which amounted to Php18.34 billion.
“As global investors start going back to emerging markets, we hope to see improvement in our daily value turnover. We believe that the Philippine market continues to offer potential good returns to investors,” Sicat added.