The stock has been unstoppable despite the broader weakness in the local stock market, soaring more than 120 percent over the past 12 months.
It officially clinched the P2 trillion milestone on Tuesday after gaining P5, or 0.51 percent, to close at P993 per share, less than 10 months after becoming the first Philippine Stock Exchange index company to break the P1 trillion market value barrier.
This further cements Razon’s position as the Philippines’ richest businessman, capping three decades of expansion that transformed ICTSI from the operator of Manila’s international container terminal into the world’s largest independent port operator.
It also highlights investors’ willingness to back Razon and his diversified ports empire despite persistent uncertainty over tariffs and global trade.
Founded by Enrique Razon Sr., ICTSI now operates more than 30 terminals across 19 countries spanning Asia, Latin America, the Middle East, Africa and Europe.
The company went public in 1992 at P6.70 per share, meaning investors who bought into its initial public offering have seen the stock climb nearly 150-fold since its market debut.
—Edited by Miguel R. Camus
