Globe Telecom, Inc. concludes stock rights offering
Globe Telecom, Inc. concluded its 10.12 million stock rights offering with a bell ringing ceremony held at the Philippine Stock Exchange (PSE) on Friday, October 28. The Ayala-led telecom company raised P17 billion from the capital raising activity.
The listing ceremony was attended virtually by Securities and Exchange Commission Chairman Emilio Aquino and PSE Chairman Jose Pardo.
On-site participants in the bell ringing event were PSE Management led by Roel Refran and Globe Chief Finance Officer, Treasurer and Chief Risk Officer Rizza Maniego-Eala together with Globe officers.
In his welcome message during the event, Refran lauded the company for returning to the equities market after eight years to raise capital.
He also congratulated Globe on its successful stock rights offering.
“The success of this stock rights offering despite current market conditions shows the formidable status of Globe as one of the biggest publicly listed companies by market value as well as a dependable brand. This is also a testament to the confidence and loyalty that shareholders have on the company’s vision, strategic direction, and management and leadership,” said Refran.
Aquino cited Globe for its P17 billion stock rights offering and commended this undertaking as a welcome addition to the economy.
“Now is indeed an opportune time for this listing. With Globe’s expertise, the Commission is hopeful that the company will establish itself as a trusted digital transformation partner of the government. Large and small enterprise customers and empower the local economy in its digital transformation by helping businesses flourish through the right technology, infrastructure solutions and know-how, as well as in attaining its vision of leading a Philippines where families’ dreams come true, businesses flourish and the nation is admired,” said Aquino. Corporate Communications Department