The Philippine Stock Exchange (PSE) witnessed a historic milestone on July 14 as ICTSI, a port operator, closed above the P2-trillion market capitalization mark for the first time.
The company's shares climbed to record levels, marking a significant achievement for ICTSI, which has been listed on the PSE since 1992.
PSE President and Chief Executive Officer Ramon S. Monzon praised ICTSI's performance, saying that doubling its market capitalization in less than 10 months is "nothing short of extraordinary."
According to the exchange, ICTSI had previously reached the P2-trillion market capitalization level during intraday trading on June 16 and July 13, when its shares hit intraday highs of P995 and P1,000, respectively.
ICTSI's achievements are a testament to its leadership and strategic direction, particularly under the guidance of Chairman and President Enrique K. Razon, Jr., as the company continues to expand its global port and logistics operations.
With 32 terminal operations and port development projects across 19 countries, including 10 terminals in the Philippines, ICTSI has established itself as a major player in the industry.
On Wednesday, ICTSI's market capitalization rose to P2.02 trillion after its shares closed at a record P999, also reaching an intraday high of P1,020 during the session.
