LT Group starts marketing for $700 million re-IPO

Following a restructuring, the Lucio Tan-controlled conglomerate that was formerly known as Tanduay Holdings has operations in the tobacco, beverage, banking and property sectors.

Bankers have started pre-marketing for a follow-on of LT Group, a Philippine-listed company controlled by the family of local tycoon Lucio Tan, giving investors another option to increase their exposure to the country’s consumer sector.

The company is expected to raise about $700 million, which will make it the largest equity fundraising in the Philippines since BDO Unibank raised $1 billion from a fully-underwritten rights issue in June last year. The latter counts as the...

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