Philippines and Taiwan stock exchanges sign a cooperation agreement
The Philippine Stock Exchange (PSE) and the Taiwan Stock Exchange (TWSE) have recently joined forces to work on capacity-building initiatives and market promotion strategies. The collaboration aims to enhance product development, regulatory practices, sustainability efforts, and market trends.
According to the official statement released by the PSE, the memorandum of understanding was signed on August 20 at the TWSE headquarters in Taipei. The partnership will involve the sharing of best practices between the two exchanges, with a focus on areas such as environmental, social, and governance (ESG) practices.
PSE president and CEO highlighted the expertise of TWSE in product and technology development, regulatory compliance, and sustainability initiatives. This collaboration is expected to bring valuable insights to the Philippine exchange, further fostering a strong relationship between the two parties.
PSE’s Outlook for the Year
In 2021, the PSE anticipates significant fundraising activities through initial public offerings (IPOs), targeting up to P40 billion in total. Notable IPOs include NexGen Energy Corp. and OceanaGold Philippines, which raised millions in funds through public offerings. Citicore Renewable Energy Corp. also made a significant debut in June, raising P5.5 billion.
Despite a slight decline in net income in the first quarter, the PSE remains optimistic about its financial performance, with a strong focus on driving sustainable growth and value creation for investors.
Source : business.inquirer.net