GT Capital set to raise $438 million via Philippine IPO

The Ty family’s holding company fixes the price above the mid-point after the international tranche is more than five times oversubscribed.

GT Capital set to raise $438 million via Philippine IPO
Metropolitan Bank and Trust (Metrobank) is part of soon-to-be-listed conglomerate GT Capital (AFP)

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...

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