Philippine conglomerate GT Capital has fixed the price of its initial public offering in the top half of the range and is set to raise Ps18.8 billion $438 million ahead of its listing on April 20. The IPO is the first on the Philippine Stock Exchange this year and the biggest in more than a year.
With the upbeat domestic stock market in the background, the deal priced at Ps455 per share, after being marked in a range between Ps415 and Ps470.
The offering is made up of 41.2 million shares, of which 80% are new. The base deal accounts for 26.1% of the enlarged share capital....
¬ Haymarket Media Limited. All rights reserved.
