Philippine Seven Corporation, with a ticker symbol SEVN, marked the its 25th anniversary as a listed company through a bell-ringing ceremony at the Philippine Stock Exchange Inc.
SEVN had its stock market debut on 4 February 1998 and raised P206.8 million on its maiden offering.
On listing date, SEVN’s market capitalization stood at P1.07 billion which stood, as of 3 February 2023, at P55.22 billion.
“The growth in the company’s value is in step with the expansion of its stores nationwide. Its retail convenience store count stands at 3,400 as of January 2023, equally divided between company-owned and franchised branches,” PSE president and CEO Ramon Monzon said.
Convenience with service
“Store network aside, it is notable how 7-11 continues to redefine convenience with services such as bills payment, in-store ATMs, online grocery shopping and other digital solutions through ‘CLIQQ’, among others. The pandemic may have delayed the expansion plans of SEVN, but I understand that the company targets to add another 400 branches this year, a move that will further solidify its foothold in the convenience store space,” Monzon in his welcome message during the event said.
Monzon added: “As the country’s economy continues to recover, I am optimistic that SEVN will be among the companies that will lead the resurgence in the retail space. Under the very able leadership of Messrs. Pardo and Paterno, and the support of SEVN’s majority shareholders, President Chain Store Corporation of Taiwan, the company will surely continue to bring value both to its investors and shareholders as well as its 7-11 customers.”