GT Capital launches Philippine IPO of up to $449 million

The holding company of the influential Ty family is poised to become the first Philippine listing this year and the largest in more than a year.

GT Capital yesterday kicked off the international roadshow and bookbuilding for its initial public offering, which is the first on the Philippine Stock Exchange this year.

The conglomerate is the holding company of the Ty family’s businesses, which range from banking and real estate development to power generation, auto manufacturing and life insurance. The portfolio gives it a diversified exposure to the growth of domestic consumption and the broader Philippine economy and makes it an...

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