First ETF starts trading at local bourse in December

First Metro Philippine Equity Exchange Traded Fund Inc. (First Metro ETF), the country’s first ETF), will start trading at the Philippine Stock Exchange on December 2, selling initially 30 million shares at a P100 par value.

First Metro ETF will have a P3-billion market capitalization but according to First Metro Securities Brokerage Inc. Chairman Roberto Juanchito Dispo, the company might raise this to P10 billion amid strong demand.