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...