MER shares mark 25th year at the Exchange
Meralco shares of stock (“MER”) marked 25 years of listing at the Philippine Stock Exchange (PSE) with a brief ceremony held on Jan. 10 at PSE. The shares were first traded on Jan. 8, 1992 at the then Manila and Makati Stock Exchanges, following an initial public offering launched in late-1991.
Meralco Officers and Directors led by Chairman Manuel V. Pangilinan, President and CEO Oscar S. Reyes, MER Director Amb. Manuel M. Lopez, and independent director Pedro E. Roxas joined PSE Officers and Directors led by Chairman Jose T. Pardo and CEO Hans B. Sicat in the special bell ringing ceremony.
Meralco Chairman MVP, in his speech, disclosed how the company has grown 25 years hence in different aspects of the business and its goal to ensure that customer-centricity remains at the heart of service. In closing, the Chairman said that “If change for Meralco has been the hallmark these past 25 years, more of it will come to define our future.”
For his part, PSE Chairman Jose T. Pardo said that Meralco has become among the pillars of the Philippine stock market “by virtue of its inclusion in the PSE index for most of its life as a listed firm. This means that it is consistently among the top companies in terms of market capitalization, liquidity, and free float level.” He continued: "I think that the effort to strike a balance between corporate profit and public welfare has been one of the strong value propositions of the company to existing shareholders and potential investors."