MANILA – SM Prime Holdings Inc reached a milestone in Philippine business as it became the first company to surpass P1 trillion in market capitalization on Monday.

SM Prime’s share prices have been going up in the past few days amid strong foreign investor buying and a favorable market outlook.

Shares of SM Prime reached a high of P35.10 before closing at P34.60, up 2.52 percent from Friday’s close.

“SM Prime acknowledges the investment community’s unwavering support. This is a great moment for us to share this success as we continue to deliver our commitment to our shareholders,” SM Prime chief finance officer John Ong said.
    
The company is on the fourth year of its five-year P400 billion investment plan that aims to double income and revenues and is also looking to expand within Southeast Asia.
    
SM Investments Corp is second in terms of market capitalization with P942 billion.