Shell prices Philippine unit's IPO at mid-point

Investor demand for Pilipinas Shell Petroleum indicates confidence in the Philippine economy and desire for a rare, internationally recognized IPO in Manila.

Shell prices Philippine unit's IPO at mid-point
Pilipinas Shell receives institutional support for IPO

Pilipinas Shell Petroleum is edging closer to listing its shares on the Manila bourse after receiving strong demand from international investors for the institutional tranche of its Ps18.4 billion $380 million initial public offering.

Final pricing for the 275 million-share deal was set at Ps67 per share, the mid-point of the Ps64 to Ps70 indicative price range. That is also at the upper end of the revised guidance Ps65 to Ps67 done during the...

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