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Manila Bulletin devider Business devider The Stock Market devider SM Prime IPO investors see 972.6% return

SM Prime IPO investors see 972.6% return

Published Jul 23, 2024 06:23 am

Investors of SM Prime Holdings Inc. (SMPH) who bought shares during its initial public offering (IPO) in 1994 and held on to them for the next 30 years have now seen their investments balloon by 972.6 percent.

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(from left): SMPH Executive Committee Chairman Hans T. Sy, SMPH Vice Chairperson Amando M. Tetangco, Jr., SMPH Executive Director and President Jeffrey C. Lim, SMPH Chairperson Henry T. Sy, Jr., PSE President and CEO Ramon S. Monzon, PSE Directors Eddie T. Gobing and Vivian Yuchengco, PSE COO Atty. Roel A. Refran, PSE Issuer Regulation Division Head Atty. Marigel M. Baniqued-Garcia and PSE General Counsel Atty. Veronica V. Del Rosario.

The Philippine Stock Exchange (PSE) marked the 30th listing anniversary of SMPH with a bell ringing ceremony on Tuesday, July 23.

SMPH had its stock market debut on July 5, 1994 after raising close to P6 billion from the sale of primary and secondary shares during its IPO.

PSE President and CEO Ramon S. Monzon cited some of SMPH’s achievements in the stock market during his welcome message including its consistent inclusion in the PSEi since October 1994, its yearly dividend payout since 1996, and for being the first Philippine listed company to breach the P1 trillion market capitalization mark in 2017.

“Taking into account all the dividends and the appreciation of SM Prime’s stock price since its 1994 IPO, investors who bought SM Prime during its IPO would have earned a mind-boggling return of 972.6 percent,” Monzon said.

He also noted the growth spearheaded by SMPH’s founder Henry Sy Sr. and how the second generation Sy siblings did not rest on the previous successes of the company.

“At the forefront of SM Prime’s growth story in its three decade-history is the company’s Founder, Mr. Henry Sy, Sr., who was known for his vision, pioneering mindset and business acumen," said Monzon.

He added that "the legacy of Mr. Henry Sy Sr. lives on through the leadership and business acumen of his four sons, Henry Jr., Hans, Herbert and Harley and his two daughters, Elizabeth and Tessie all of whom apparently inherited their father’s entrepreneurial genes and learned directly from one of the best taipans the country ever had."

“We are beyond grateful to reach a remarkable milestone in SM Prime's history as we celebrate our 30th listing anniversary as a public company. Guided by the vision of our founder, Mr. Henry Sy, SM Prime was incorporated to build and operate world-class one-stop shops for shopping, dining, amusement, and entertainment in the Philippines. Over the years, SM Prime has continued to achieve new heights as an integrated property developer,” SMPH President and CEO Jeffrey Lim said.

He added that “we extend our heartfelt gratitude to all who have been a part of our remarkable journey - to our shareholders, customers, business partners, the investing public, the bankers, and the media - your unwavering support has been pivotal in our growth."

“May this new milestone bring more optimism to further the growth of the company, powered by our passion and determination to deliver a better future for everyone, today and in the years to come,” Lim also said.

Related Tags

Ramon S. Monzon Hans T. Sy SM Prime Holdings Inc. Jeffrey C. Lim Philippine Stock Exchange Henry Sy Jr.
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