Axelum Resources Corp has officially made it to the industrial sector index of the Philippine Stock Exchange (PSE), the company announced Monday.
Axelum, a fully-integrated manufacturer and exporter of coconut products, said it qualified for inclusion after meeting the criteria in terms of market capitalisation, liquidity, free float, and other relevant financial measures.
In 2019, ARC successfully launched its initial public offering and culminated the year by reporting its highest level of profitability in its storied history.
Axelum Chief Operating Officer Henry J. Raperoga said the inclusion of the company in the PSE Industrial Sector Index is a major milestone that was achieved not only due to its strong operating performance but also in forging a wider coverage in its relationships with shareholders and prospective investors.
“We will continue giving special attention to our investor relations program so that more local and foreign stakeholders may become aware of our business platform and stewardship principles,” Raperoga added.
Last year, ARC focused on maintaining operational viability, manpower safety, and rallying organized efforts to combat the coronavirus outbreak.
Moreover, despite the various headwinds, the company remained committed to its sustainability programs for the benefit of its host communities.
Aligned with its social objectives, Axelum recently started the construction of the San Isidro Polymedic General Hospital (SIPGH) located in Gingoog City, Misamis Oriental.
Scheduled to be completed by mid- 2022, this project was undertaken to offer professional and affordable healthcare services to neighboring residents particularly the indigent population. SIPGH will be equipped with 100-patient beds including a hemodialysis center, extended laboratory capabilities and an intensive care unit.
“This is one more way, on top of our many other programs, of giving back to our host communities who have helped us nurture Axelum Resources throughout these years,” Raperoga added.
Axelum’s stock was trading at P3.43 each at noon Monday, down 3.38 per cent from Friday’s close. – BusinessNews.ph
