Religare Capital Markets expands into the Philippines
Date: Mar 06, 2013
Categories: Markets & Exchanges
Keywords: Religare Capital Markets
Singapore, March 4th 2013 - Religare Capital Markets, a subsidiary of one of India's leading diversified financial services group, Religare Enterprises Ltd., said it has been awarded a Business Representative license from the Philippine Securities and Exchange Commission.
The move is part of the Group's expansion strategy in Asian emerging markets. Managing Director and Head of Investment Banking, Sutha Kandiah, said the initial focus would be on equity markets and financing related transactions for fast growing clients in the country.
He added: “Religare Capital Markets’ latest expansion is a logical extension of the work we have been doing for our clients in the Philippines. We’ve seen the volume of transactions we handle for them increase in tandem with the growth of the Philippines economy.
“The country is indeed one of the world's unfolding success stories. With strong economic growth between six and seven percent, stable political situation and strong investment flows, the Philippines represent an attractive proposition to global investors.”
Mr Kandiah said Religare Capital Markets’ equity research team plans to continue to deepen its coverage of mid-cap, fast growing companies on the Philippines Stock Exchange.
Religare Capital Markets is no stranger to the Philippines market, having participated in local equities deals, such as the follow-on offering of education holding firm STI Education Services Holdings, Inc and the placements of Philweb Corp and Puregold Price Club Inc.
On the investment banking side, Mr Kandiah, said: "Religare has set its sights on the potential in the consumption-related sectors, such as retail, education and healthcare and also energy and resources. We will target capital raising for companies that are private or new issues or existing companies that are currently lacking visibility and suffer from low liquidity."
Religare Capital Markets is an Asia-focused emerging markets investment bank, offering a full suite of M&A advisory, equity capital market products and private placements. With a presence in over 10 countries, it has offices in India, Singapore, Hong Kong, London and Dubai and a joint venture in Sri Lanka.
The Group's over 500 institutional clients include sovereign wealth funds and hedge funds, many of which view the Philippines as a market that they want to access.
Re-disseminated by The Asian Banker