Take-off for Cebu Air IPO

The Philippines-based airline seeks to raise up to $288 million and is set to become the second listed low-cost carrier in Asia.

Cebu Air has started the formal marketing of its initial public offering, which aims to raise up to $288 million. If successful, the Philippines-based carrier, which operates under the name of Cebu Pacific, will become the second only low-budget airline in Asia to go public after MalaysiaÆs AirAsia.

It will also be the second only Philippines company to list this year after Pepsi-Cola Products Philippines which is due to close the international portion of its up to $136 million...

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