First Metro Investment cited as Best Equity House in the Philippines

Jul 10, 2012 19:00 JST

Source: First Metro Investment Corporation

MANILA, Jul 10, 2012 - (ACN Newswire) - First Metro Investment Corporation has been chosen as the Best Equity House in the Philippines by Finance Asia Magazine in its 2012 Country Awards for Achievement.

First Metro Investment President Roberto Juanchito Dispo said, "This recognition is special for us, as this is the first time for First Metro to be cited as Best Equity House not only by the Hong Kong-based publication, Finance Asia, but also by any other award giving body. We are happy that our contribution in the Philippine equities market has now been recognized."

First Metro was cited for its sizeable role in the equities market during the screening period which covered two of the most significant and successful IPOs recently in the local equities market - the Initial Public Offering (IPO) of Puregold Price Club, Inc. (Puregold) and GT Capital Holdings, Inc. (GT Capital).

First Metro Investment acted as one of the Domestic Lead Underwriters for Puregold's P8.625 billion IPO which was the country's biggest IPO in 2011. Approximately 83% of the offer was subscribed to by international investors, with the balance taken up by the domestic market. The IPO was successfully completed during the market's worst weekly and quarterly performances in the last three years. Notwithstanding the global economic turmoil, investors bought into Puregold's condition.

GT Capital's P21.56 billion IPO is the country's second largest IPO in history and First Metro Investment was on top of the transaction as Sole Domestic Coordinator, Bookrunner, Lead Manager, and Domestic Lead Underwriter. Shares of 58.5% were sold to international investors while 41.5% were sold domestically. This was the first for the Philippine equities market, where the split for large IPOs is usually 70% for international and 30% for domestic. The offer was 4.5x oversubscribed.

In the same period, the company also notably covered 66% of the total capital markets transactions. It participated in 90% of the total peso-denominated government debt, acting as one of the Joint Issue Managers in the P179.7 billion Retail Treasury Bonds (RTB 15) and as one of the Joint Deal Managers in the P323.4 billion Domestic Debt Consolidation Program, which was awarded by The Banker as Deal of the Year 2011. The investment bank also covered 36% and 40% of the total peso-denominated corporate debt and equities transactions, respectively.

"First Metro will persist to strive hard to reinforce our position as a premier investment bank in the country and as a prime mover in the development of the Philippine capital markets. We will continue to deliver strong and attractive results that meet our clients objectives and help boost activities in both debt and equity markets," added Dispo.

Finance Asia is a leading publishing company in the region that covers the financial and capital markets. It likewise recognizes the region's most significant transactions and financial institutions through its annual Country Awards for Achievement.

Contact:

Anna Marie Tuprio
Corporate Planning & Affairs Department 
Tel: +63-2-858-7951                   
E-mail: marie.tuprio@firstmetro.com.ph

Source: First Metro Investment Corporation
Sectors: Daily Finance

Related Press Release

First Metro Philippine ETF Shows Strong Performance in its First Year

January 29 2015 11:30 JST

First Metro Investment Corp: Philippines Will Sustain Economic Gains in 2015

January 29 2015 11:00 JST

The Philippine Investment Summit 2013 Aims to Bolster the Philippines' Standing in the Global Markets

January 25 2013 15:00 JST

Renowned Economist Dr. Nouriel Roubini to Provide Keynote Address at the Philippine Investment Summit 2013

January 23 2013 12:00 JST

First Metro Investment Releases November Philippines 'Market Call'

November 16 2012 16:00 JST

First Metro Investment Releases August Philippines 'Market Call'

August 20 2012 08:00 JST

First Metro Investment Posts P1.9 Billion Income for 1H 2012

August 01 2012 14:00 JST

First Metro Investment Releases June Philippines 'Market Call'

July 13 2012 18:00 JST

First Metro Investment Releases May Philippines 'Market Call'

June 26 2012 12:00 JST

First Metro Investment Wins Institute of Directors Corporate Governance Award Anew

June 06 2012 13:00 JST

More Press release >>

Latest Press Release

Gruelling Challenge Awaits TGR In Saudi Arabia
Dec 27, 2024 15:20 JST

The General Incorporated Association Generative AI Japan Announces the Winners of the Japan Generative AI Award 2024
Dec 27, 2024 11:00 JST

MHI Included in "World Index" of Dow Jones Sustainability Index for Second Consecutive Year
Dec 27, 2024 09:36 JST

TOYOTA GAZOO Racing to Exhibit at Tokyo Auto Salon 2025
Dec 26, 2024 17:11 JST

JCB Launches Red Guahan Shopping Mall Shuttle Free Ride Promotion in Guam
Dec 26, 2024 12:00 JST

Mazda Production and Sales Results for November 2024
Dec 26, 2024 11:46 JST

MHI Conducts Nighttime and Long-Distance Highway Demonstration Testing of Unmanned Aerial Vehicle Currently Under Development
Dec 26, 2024 09:47 JST

Hitachi delivers a turnkey rail solution for Ho Chi Minh City's first urban railway Line 1 in Vietnam
Dec 24, 2024 13:19 JST

Nissan and Honda sign MOU to consider business integration
Dec 24, 2024 11:18 JST

Olympus Named to Dow Jones Sustainability World Index for the Fourth Consecutive Year
Dec 24, 2024 11:00 JST

GAC Honda Begins Operation of New Energy Vehicle (NEV) Production Factory in Guangzhou, China
Dec 24, 2024 10:23 JST

Sarawak Premier Makes Inaugural Visit to Mitsubishi Power's Takasago Hydrogen Park
Dec 24, 2024 10:10 JST

Fujirebio and Eisai Enter into Memorandum of Understanding for Joint Research and Social Implementation of Blood-based Biomarkers in the Field of Neurodegenerative Diseases
Dec 23, 2024 17:22 JST

Nissan, Honda, and Mitsubishi Motors sign MOU on collaborative considerations
Dec 23, 2024 13:54 JST

Fujitsu drives chemical industry logistics DX with participation in joint logistics demonstration
Dec 23, 2024 13:30 JST

Mitsubishi Motors Cumulative Production Reaches One Million Units in Indonesia
Dec 20, 2024 17:35 JST

Contract Renewed on Operation and Maintenance (O&M) Services for APM System at Washington Dulles International Airport
Dec 20, 2024 17:24 JST

Toyota Launches Alphard and Vellfire PHEV Models in Japan
Dec 20, 2024 15:38 JST

6G Begins! Embarking on a New Journey of Global Interoperable Standards
Dec 19, 2024 16:50 JST

MI LNG Company to Change Corporate Name to MILES
Dec 19, 2024 13:49 JST

More Latest Release >>