Cemex: a rare concrete deal in the Philippines

The Philippine cement maker’s IPO will be a boon to bankers and a relief to deal-starved investors in a market where foreign companies are reluctant sellers.

Cemex: a rare concrete deal in the Philippines

The Philippines has become one of the best-regarded economies in Asia. But what it has not become, despite the best attempts of bankers inside and outside of the country, is a major source of capital market revenues.

The easy availability of bank loans, bolstered by steady flows of remittances from overseas workers, puts many local companies off the rigours of bond registration. The most recent initial public offering was paltry a $4 million listing by...

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