SM Prime Holdings Inc. investors who have bought the company’s shares in its initial public offering in 1994 and did not sell them may now realized a gain of 972.6 percent, the Philippine Stock Exchange (PSE) said.
Speaking at the company’s 30th listing anniversary Tuesday, Ramon Monzon, PSE president, noted that SM Prime has paid cash dividends every year since 1996, and paid stock dividends in 2007 and 2012.
“Taking into account all the dividends and appreciation of SM Prime’s stock price since it’s 1994 IPO investors who bought SM Prime during that IPO would have earned a mind-boggling return of 972.6 percent,” he said.
The company raised close to P6 billion in its IPO, selling to the public primary and secondary shares. SM Prime formally traded in the PSE on July 5, 1994.
Monzon noted since then, SM Prime has recorded milestones over the years, being a consistent PSE index component since 1994 and just three months after its IPO.
It is also the first listed company to hit the P1 trillion market capitalization mark in 2017.
“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. 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,” Monzon said.
