The Philippine Stock Exchange (PSE) reported that its net income rose 43.7 percent to P541.53 million in the first three quarters of 2021 from P376.84 million in the same period last year on higher operating revenues.

In a disclosure, the bourse said its listing-related fees, trading-related fees and service fees all posted gains in the first nine months of 2021.

This boosted the PSE’s operating revenues to P1.10 billion, up by 23.9 percent year on year. Total expenses, on the other hand, went up by a slower 11.1 percent to P514.81 million.

“Capital requirement for post-pandemic business activities spurred listing activity this year. We actually expect a few more public offerings in the last few weeks of the year,” said PSE President and CEO Ramon S. Monzon.

Capital raised from the sale of primary and secondary shares was at P161.41 billion for the first nine months of 2021.

Fund raising activities during the period included four initial public offerings, three follow-on offerings, three stock rights offerings, and six private placements.

Daily average turnover was at P8.43 billion as of end-September with foreign funds as net sellers at P86.77 billion.

“Trading activity was brisk with the increased participation of retail investors in the market. We see this momentum holding up, considering that most investors are anticipating a year-end rally now that the PSE index has tested the 7,400 level,” said Monzon.

He added that, “Even as domestic retail investors picked up the slack from the absence of foreign funds, we still hope that these foreign institutional investors will soon return to our market.”