Wenceslao to test investor appetite in Philippines

Construction and property developer braves wintry conditions in the Philippines equity market to bring possibly the largest flotation of the year.
Aseana City
Aseana City

DM Wenceslao and Associates, a construction and real estate company, has launched pre-marketing for a $150 million to $200 million initial public offering that could turn out to be the Philippines largest flotation of the year.

The deal is coming at a time when the Philippines Stock Exchange PSEi Index appears to have resumed its losing streak. The market initially turned downwards in April after hitting a year-to-date peak of 8,127.48 and enjoyed only a very brief respite in October when all global equity markets picked up again.

On Monday, it fell 1.8% to close at 6,772.92.

Year-to-date it is down 6.33%, with...

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