Globe overtakes PLDT in terms of market cap
Technology

Globe overtakes PLDT in terms of market cap

Ayala-led Globe Telecom Inc. said it has outmaneuvered its perennial rival PLDT Inc. to become the country’s largest telecommunications company in terms of market capitalization.

GLO’s market cap has grown to P361.03 billion as of Sept. 6 versus TEL’s P318.68 billion.

READ: Aggressive expansion pays off: Globe’s call and data services improving

“Globe’s high market capitalization shows investors’ confidence in the company’s prospects, including its strategy to invest and diversify into adjacent sectors,” the telco sad.

Globe has exhibited remarkable growth, successfully transforming its telco business into a technology-based solutions provider with a footprint in fin tech, healthcare, entertainment, adtech, e-commerce, manpower, IT services and venture capital.

READ: Ayalas borrow P13B to support Globe’s record capex

Affiliates and subsidiaries of Globe include Kickstart Ventures, Asticom Technology, Yondu, and 917Ventures which operates Mynt, KonsultaMD, HealthNow, AdSpark among others. Its other notable brands include Globe Studios, Globe Live, GOMO and TM.

READ: Mad rush for GCash: Globe rockets to new all-time high, market cap nears P400B

Given its healthy operating results and cash flows, Globe has been paying 60 to 75 percent of its prior year’s core net income to shareholders in the form of dividends.

To further cement its leadership position in the industry, Globe continues to look for new ventures that are ready to scale, according to its president Ernest Cu.

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