FRESH capital raised by publicly listed companies reached P34.8 billion during the first five months of the year, up 41.5 percent, from P24.63 billion a year earlier, according to data released Wednesday by the Philippine Stock Exchange (PSE).

Proceeds from initial public offerings (IPOs) amounted to P2.92 billion from January to May, mostly from the shares sale by National Reinsurance Corp. of the Philippines which amounted to P2.82 billion and the P104.78-million IPO of Pacific Online Systems Corp.

Funds produced from private placements, meanwhile, amounted to P80.47 million.

Equity from stock rights offerings hit P15.2 billion, or 20 times bigger than the P751.96-million level in the same comparable period.

Megaworld Corp. made a P10.79-billon stock rights offer last January; EEI did the same and raised P540 million last March; while Alliance Global Group Inc. completed its own P3.11-billion stock rights offer last April.

On the other hand, proceeds from follow-on offerings surged by 59.3 percent to P16.63 billion from P10.44 billion a year ago. The follow-on offerings included those conducted by Filinvest Land Inc. and Rizal Commercial Banking Corp. last February.

“I am reiterating my sense of optimism about the market’s ability to match, if not surpass, the amount of equity to be raised this year via the sale of primary shares to the public,” said PSE president Francis Lim “That’s because we already have in the pipeline several pending IPO applications worth P16 billion.”

The companies lined up for the rest of the year are Phoenix Petroleum, Anchor Land Holdings Inc., Aboitiz Power Corp. and GMA Network Inc.

Anchor Land, for instance, is offering 65 million primary common shares to domestic investors at P4.97 to P8.94 per share. It has commissioned BDO Capital and Investment Corp. as lead underwriter.

“We are finalizing everything now. Our target is to list the shares by July,” said company chief executive Steve Li in a previous interview with BusinessMirror.

“I think IPO is the right platform to let people get to know us. It’s the way to go,” Li said when asked why the company decided to go public.

Anchor Land is a multinational company with several projects in China. It started commercial operations in the Philippines with the launch of its first luxury condominium project, LEE Tower, under unit Anchor Properties Corp.

The LEE Tower condominium building comprises of several spacious and well-designed two, three, and four bedroom units. It has been completely sold out and was turned over to owners in the first quarter of 2006.

Another project, Mayfair Tower, is a 33-story residential condominium on UN Avenue, Manila. It boasts of first-class amenities with a unique oval shaped upper deck profile and tranquility garden on the 30th floor viewing deck.

FRESH capital raised by publicly listed companies reached P34.8 billion during the first five months of the year, up 41.5 percent, from P24.63 billion a year earlier, according to data released Wednesday by the Philippine Stock Exchange (PSE).

RFM to raise P1B via stock offering

RFM Corp. will raise P1 billion through a stock offering in the third quarter of the year, president Jose Concepcion III said Wednesday.

PHILIPPINE stocks Wednesday declined after bond yields climbed in the US, fueling concerns growth will slow in the country’s biggest export market and demand will weaken for riskier assets, such as the nation’s equities.

ATLAS Consolidated Mining Corp. has signed a mineral production sharing agreement with the Department of Environment and Natural Resources (DENR) for the exploration of nickel resources on Palawan Island.

MIDDLE-INCOME property developer Empire East Land Holdings Inc. is allotting P7 billion to P8 billion over the next five years to bankroll acquisition of lands and continued development of various residential projects.