DFNN.com bookbuilding attracts existing shareholders

The PhilippinesÆ first IPO in over a year is set to test interest in tech stocks.
With the peso hitting record lows and the ongoing hostage saga there has been a lot of bad news coming from the Philippines recently. Hoping to buck that trend and breathe some life into the countrys capital markets, Diversified Financial News Network DFNN.com plans to sell shares next month in the Philippines first IPO since June 1999.

DFNN.com operates a financial information portal as well as offering online banking and brokerage solutions to companies that wish to outsource their technology operations. It is looking to list on the second board of the Philippine Stock Exchange PSE next month by selling 14.9 million shares at between 10 and 20 pesos each....

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