Medilines Distributors, Incorporated (ticker: MEDIC) marked its stock market debut in the Philippine Stock Exchange (PSE) with a bell ringing ceremony on Tuesday, December 7.
The company will use the Php1.20 billion raised from the sale of its primary shares to purchase existing products and build-up its medical consumables inventory and to pay off debt.
In his welcome message during the initial public offering (IPO) listing ceremony, PSE President and CEO Ramon S. Monzon said, “I am pleased that the PSE was able to serve as the company’s partner in its fund-raising activity. I hope that Medilines’ IPO will encourage other companies supplying products and equipment to the healthcare industry and especially those principally in the healthcare space to likewise consider tapping the equities market for capital.”
“I hope that this IPO will just be the beginning of bigger and better opportunities for Medilines to realize its vision of introducing more quality life-saving innovations in the country,” Mr. Monzon added.
Photo 1 (from left, by row): MEDIC President and CEO Ma. Patricia Dolor V. Yambing, PSE COO Atty. Roel A. Refran; MEDIC Director Ma. Theresa V. Villar, MEDIC Chairman Virgilio B. Villar, PSE President and CEO Ramon S. Monzon and PSE Issuer Regulation Division Atty. Marigel B. Garcia; Philippine National Bank President Jose Arnulfo A. Veloso, MEDIC General Manager Daniel C. Zulueta, MEDIC Treasurer and CFO Margarita D. Villarico and Securities Clearing Corporation of the Philippines COO Ms. Renee Rubio.
Photo 2 (from left, by row): MEDIC President and CEO Ma. Patricia Dolor V. Yambing, MEDIC Chairman Virgilio B. Villar, PSE President and CEO Ramon S. Monzon, Securities and Exchange Commission (SEC) Chairperson Emilio B. Aquino, PSE Chairman Jose T. Pardo; PSE Director Wilson L. Sy, SEC Commissioner Ephyro Luis B. Amatong, PSE Director Chief Justice Teresita Leonardo-De Castro (ret.), MEDIC Directors Fernando S. Segovia, Brian N. Edang and Gerardo J. Guerrero; PSE Corporate Secretary Atty. Aissa V. Encarnacion, MEDIC Director Norman K. Macapagal, PSE Directors Ferdinand K. Constantino and Consuelo D. Garca, Vista Land & Lifescapes, Inc. President and CEO Manuel Paolo A. Villar; Picazo Law Partner Atty. Gabriel A. Dee, PNB Capital & Investment Corporation President Gerry B. Valenciano, Two On, Inc. Director Katrina V. Valdehueza, Romulo Law Partner Atty. Ma. Stella A. Batungbacal.