First Metro Investment Corporation (First Metro) and First Metro Securities (FirstMetroSec) of the Metrobank group have been recognized by Hong Kong-based financial publication, Finance Asia for their excellence in investment banking and navigating the financial markets.
In a statement, First Metro said it was awarded as the Philippines’ Best Investment Bank by FinanceAsia for the second straight year. It was also named as the winner for the Best Debt Capital Markets category.
Meanwhile, stock brokerage firm FirstMetroSec was given the Best Broker title, citing its posted growth in terms of revenues, client base, and trading volume.
Its delivery of real-time market and economic news, and trading insights to customers were also underscored by Finance Asia for the stock brokerage's recognition.
“We are honored to be recognized by FinanceAsia for two consecutive years. These awards reflect our unwavering commitment to providing exceptional investment banking solutions and our ability to mobilize capital efficiently for our clients,” said First Metro President Antonio R. Ocampo, Jr.
During the awards covered period, First Metro orchestrated 15 capital market transactions, raising a total of P449.22 billion. This represents a commanding 78 percent market share of the combined P575.42 billion raised for bonds and equities.
On the debt front, First Metro successfully managed and underwrote bond issuances of major corporations, such as SM Prime Holdings at P33.3 billion, Aboitiz Equity Ventures at P17.45 billion, Ayala Land at P15.0 billion, Robinsons Land at P15.0 billion, and Filinvest Land at P11.43 billion.
First Metro also played a key role in the government’s debt program, acting as joint issue manager and selling agent for the P283.07 billion Retail Treasury Bonds and $1.26 billion Retail Dollar Bonds.
In the equity space, First Metro was the sole issue manager, sole bookrunner and joint lead underwriter of the P1.65 billion IPO of Upson International Corp., the owner and operator of the largest computer store, Octagon.
For M&A, First Metro served as joint financial advisor for First Pacific Company, Metro Pacific Holdings, GT Capital Holdings, Mit-Pacific Infrastructure Holdings Corporation, and MIG Holdings in their tender offer to acquire Metro Pacific Investments Corporation (MPIC), whose market value at the time of delisting was at P149 billion.
“Our success is driven by our dedication to helping our clients achieve their growth objectives through the capital markets. We are committed to continuing this momentum and delivering even greater value to our clients.” said First Metro Executive Vice President and head of Investment Banking GroupDaniel D. Camacho.
He added that, “We are grateful to FinanceAsia and our clients for this recognition and I’m proud of the efforts, achievements, and professionalism of our team.”
The FinanceAsia Awards annually recognizes financial institutions for their excellence in banking, investment banking, brokerage, and private banking in around 20 territories, including the Philippines, Singapore, Taiwan, Thailand, Malaysia, Hong Kong, South Korea, China, and Indonesia.