The Philippine Stock Exchange marked its first full week of trading this year with the listing of Makati Finance Corp., a unit of Amalgamated Investment Bancorporation.
MFC is currently engaged in consumer lending to medical professionals (Rx Cashline) as well as handling of receivables of small service companies (MFC Factors).
The company became the 237th firm to enter the PSE's roster of listed companies and the second to list on the Small and Medium Enterprise Board. Its shares rose by almost 9 percent yesterday from the offer price of P1.38 to P1.50 per share.
"We at the exchange are confident that the market is off to a good start having MFC as the first listing of the year," PSE chair Vivian Yuchengco said.
MFC president Max Borromeo said the company was unfazed by the listless trading activity, saying that the best time to list was during market downturns.
